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SE Asia Stocks-Down; Thailand underperforms on forced sales
March 22, 2013 / 10:52 AM / 5 years ago

SE Asia Stocks-Down; Thailand underperforms on forced sales

March 22 (Reuters) - Thailand stocks fell more than 3
percent on Friday to a seven-week low due to forced sales on
margin accounts, while other Southeast Asian shares mostly ended
weaker on fears over the euro zone economy as Cyprus bailout
struggle lingered.
    Thailand's main stock index fell more than 4 percent
in early trade due to forced sales on margin accounts and
worries about planned increases to required deposits in cash
balance accounts. 
    It ended 3.3 percent weaker at 1,478.97, the lowest since
Jan. 31. 
    The fall was nothing to do with fundamentals, said Parin
Kitchatornpitak, a senior analyst at KTB Securities. 
    "Several stocks were forced selling after the index fell
below the 1,500 mark this morning. This put downward pressure on
the market," Kitchatornpitak said. 
    The fall came after the exchange said in a statement it
planned to raise guarantees needed in cash balance accounts to
at least 20 percent of trading value from 15 percent as part of
measures to ease volatility in the stock market.
    The index, which is still up 6.25 percent this year, has
lost 7.5 percent this week after hitting a 19-year high on March
15 as a firmer Thai baht also weighed on sentiment. The
bourse suffered a $220.30 million outflow in the first four
sessions of the week.
    Other markets ended weaker on growth concerns in euro zone
as Cyprus scrambled to avoid a meltdown of its banking system
and a possible exit from the euro. 
    Indonesia fell 1.7 percent to a more than three-week
low, Singapore ended 0.3 percent weaker, Vietnam 
lost 0.4 percent, and Malaysia lost 0.2 percent.
    For Asian Companies click;  
For South East Asia Hot Stock reports, click;

 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   438.88        442.07       -0.72
 Singapore          3258.57       3267.65       -0.28
 Kuala Lumpur       1626.89       1630.75       -0.24
 Bangkok            1478.97       1529.52       -3.30
 Jakarta            4723.16       4802.67       -1.66
 Manila             6518.71       6472.98       +0.71
 Ho Chi Minh         489.99        491.79       -0.37
 Change on year
 Market             Current     End prev yr    Pct Move
 TR SE Asia Index*   438.88        424.10       +3.49
 Singapore          3258.57       3167.08       +2.89
 Kuala Lumpur       1626.89       1688.95       -3.67
 Bangkok            1478.97       1391.93       +6.25
 Jakarta            4723.16       4316.69       +9.42
 Manila             6518.71       5812.73      +12.15
 Ho Chi Minh         489.99        413.73      +18.43
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.

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