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SE Asia Stocks-Thai stocks falter on politics; others up
June 5, 2012 / 10:26 AM / 5 years ago

SE Asia Stocks-Thai stocks falter on politics; others up

 BANGKOK, June 5 (Reuters) - Thai stocks fell to their lowest
level in four months on Tuesday as growing political tension
prompted broad based selling, but other Southeast Asian share
markets pushed higher, helped by hopes for more action on the
euro zone debt crisis.	
 Thailand's benchmark SET index fell 1.4 percent to
1,099.15, the lowest close since Feb 7, led by losses in big
caps such as Siam Cement Pcl and Bangkok Bank Pcl
.	
 Thai politics has heated up after anti-government
yellow-shirted People's Alliance for Democracy activists
blockaded parliament last week and forced the government to
postpone debate on a national reconciliation bill.	
 Brokers said investors could still stick to defensive stocks
such as food and retail counters, which have unusually joined
the rout.	
 "While both issues could lead to rising political
confrontation in coming months, it would not cause a political
U-turn into the chaos seen over the past years in our view,"
said Suchart Techaposai, head of Thailand Country Research in a
report.	
 "We view any market correction relating to the matter as an
opportunity to buy into the ongoing private investment up-cycle
led by FDI and Thai companies intending to improve productivity
and lower costs."	
 Indonesian shares rose 1.7 percent after Monday's 
3.8 percent drop.	
 Stocks in Singapore, Malaysia, the
Philippines and Vietnam also recouped some of
Monday's losses, rising 0.5 percent, 0.3 percent, 0.7 percent
and 1.05 percent, respectively.	
 (Editing by Kim Coghill)	
    	
 	
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SOUTHEAST ASIAN STOCK MARKETS	
 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          2712.31       2698.80       +0.50
 Kuala Lumpur       1560.36       1555.18       +0.33
 Bangkok            1099.15       1115.19       -1.44
 Jakarta            3717.88       3654.58       +1.73
 Manila             4925.67       4890.20       +0.73
 Ho Chi Minh         421.02        416.65       +1.05
 	
 Change on year
 Market             Current     End prev yr    Pct Move
 Singapore          2712.31       2646.35       +2.49
 Kuala Lumpur       1560.36       1530.73       +1.94
 Bangkok            1099.15       1025.32       +7.20
 Jakarta            3717.88       3821.99       -2.72
 Manila             4925.67       4371.96      +12.67
 Ho Chi Minh         421.02        351.55      +19.76
 

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