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SE Asia Stocks - Thai shares underperform on week
August 1, 2014 / 10:37 AM / 3 years ago

SE Asia Stocks - Thai shares underperform on week

BANGKOK, Aug 1 (Reuters) - The Thai index ended modestly
lower on Friday as gains in banking shares overshadowed losses
in big-cap energy while the Philippine benchmark recouped early
losses amid inflows into large-caps, led by Philippine Long
Distance Telephone.
    The SET index was down 0.15 percent on the day and
2.8 percent lower on the week, making it Southeast Asia's worst
performer. It fell 1 percent in early trade as a strong sell-off
in global stocks dented sentiment across the region. 
    Weak global oil prices weighed on energy shares, with PTT
 falling for a third straight day. Shares of Krung Thai
Bank were among the outperformers amid a positive sign
for Thailand's political situation and economy.
    Investors await the formation of an interim government later
this month after Thailand on Thursday set up an interim
legislature which will appoint a prime minister to choose a
35-member cabinet. 
    Most other markets in Southeast Asia recorded a weak
performance on the day and were little changed on the week.
    The Philippine index bucked the trend on Friday,
rising 0.4 percent after a nearly 1 percent drop earlier in the
    Shares of PLDT hit their highest since August and Robinsons
Land Corp jumped 2.7 percent as foreign investors were
net buyers of the stocks, stock exchange data showed.
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 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   436.35        440.11       -0.85
 Singapore          3344.42       3374.06       -0.88
 Kuala Lumpur       1863.34       1871.36       -0.43
 Bangkok            1500.20       1502.39       -0.15
 Manila             6894.23       6864.82       +0.43
 Ho Chi Minh         593.90        596.07       -0.36
 Change on year
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   436.35        388.37      +12.35
 Singapore          3344.42       3167.43       +5.59
 Kuala Lumpur       1863.34       1866.96       -0.19
 Bangkok            1500.20       1298.71      +15.51
 Jakarta               --         4274.18      +19.06
 Manila             6894.23       5889.83      +17.05
 Ho Chi Minh         593.90        504.63      +17.69
 * The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.    
   ($1 = 32.1900 Thai baht)

 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)

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