February 2, 2015 / 6:46 AM / 3 years ago

SE Asia Stocks -Most fall; tourism shares weak after Bangkok bombing

BANGKOK, Feb 2 (Reuters) - Most Southeast Asian stock
markets fell on Monday as investors sold recent gainers, pulling
the Philippine benchmark off its record close in the previous
session, while Thai tourism stocks underperformed after small
bombs hit a central shopping mall.
    The Thai SET index was down 0.6 percent, on course
for a third straight session of fall.
    Thai Prime Minister Prayuth Chan-ocha ordered security to be
tightened in Bangkok on Monday after two small bombs rattled a
luxury shopping mall and stoked tension in a city under martial
law since a coup in May. 
    "Local politics is also back in spotlight after the
explosion of improvised time-bombs in the CBD of Bangkok Sunday
evening. Volatility would continue to reign in the Thai stock
market, in our view," Phillip Securities said in a report.
    Thai tourism-related stocks such as hotelier Minor
International and airports operator Airports of
Thailand were among the underperformers. Brokers said
bomb explosions in central Bangkok late on Sunday dented
    Asian sentiment was broadly weak after the latest gauge of
China's factory sector activity raised concerns about the
world's second-largest economy.  
    The Philippine composite index slipped almost 1
percent to 7,614.98, after hitting a record closing high of
7,689.91 in the previous session. Among the losers, shares of SM
Investments Corp dropped 2 percent after a 6.2 percent
gain last week.
    The loss on Monday pulled the 14-day Relative Strength Index
(RSI) to the 62.7 level versus Friday's 69.2, near an overbought
mark of 70 or above.
    In Jakarta, the main index eased 0.4 percent,
reversing the previous session's gains. Vietnam's index 
was a tad lower as investors were cautious after a circular
capping banks' loans for stock investment came into effect.
    Bargain hunting emerged in energy-related shares across
exchanges, with the Philippines' top oil refiner Petron Corp
 up 2 percent and Thailand's energy explorer PTT
Exploration and Production up 3.2 percent.
    In Singapore, shares of Semcorp Marine and Noble
Group each gained more than 1 percent, sending the key
Straits Times Index 0.5 percent higher, bucking the
    Malaysia is closed on Monday and Tuesday for public
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 Change at 0601 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3405.85       3391.20       +0.43
 Bangkok            1572.52       1581.25       -0.55
 Jakarta            5267.73       5289.40       -0.41
 Manila             7614.98       7689.91       -0.97
 Ho Chi Minh         575.90        576.07       -0.03
 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)

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