August 5, 2013 / 10:45 AM / 4 years ago

SE Asia Stocks-Weak in thin market, Thai stocks edge up

BANGKOK, Aug 5 (Reuters) - Thai stocks posted modest gains
on Monday, helped by selective buying in shares such as Home
Product Center and PTT Global Chemical,
while most others in Southeast Asia retreated due to
holiday-thinned demand. 
    The region pushed higher in earlier trade, in line with
broader Asia, as weaker-than-expected U.S. jobs
data boosted expectations that the monetary stimulus programme
in the United States would remain in place. 
    The Thai main SET index pared earlier losses to rise
0.24 percent, with trading most active in shares of building
materials retailer Home Product Center Pcl amid optimism about a
stake-sale plan by its key shareholders. 
    The late rebound lifted the year-to-date gain for the Thai
benchmark to 2.3 percent. The SET is still Southeast Asia's
worst performer.
    Thai market sentiment has been affected by political
concerns and weaker economic outlook which would affect
corporate earnings growth, CIMB said in a research report dated
Aug. 4.
    "We are 'neutral' on Thailand. Midterm fundamentals remain
intact although the near term outlook is clouded by the downside
risks to growth and rising political noise," the broker said.
     
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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   424.68        422.88       +0.43
 Singapore          3241.79       3254.13       -0.38
 Kuala Lumpur       1785.14       1782.51       +0.15
 Bangkok            1424.31       1420.94       +0.24
 Manila             6509.73       6533.95       -0.37
 Ho Chi Minh         493.66        494.66       -0.20
 
 Change on year
 Market             Current     End prev yr    Pct Move
 TR SE Asia Index*   424.68        424.10       +0.14
 Singapore          3241.79       3167.08       +2.36
 Kuala Lumpur       1785.14       1688.95       +5.70
 Bangkok            1424.31       1391.93       +2.33
 Jakarta               --         4316.69       +7.51
 Manila             6509.73       5812.73      +11.99
 Ho Chi Minh         493.66        413.73      +19.32
 
* The Thomson Reuters South East Asia Index               is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
    
 Stock Market Volume (shares)
 Market          Current Volume    Average Volume 30 days
 Singapore         179,822,300          272,313,503      
 Kuala Lumpur      120,836,500          162,892,437      
 
 Bangkok             4,710,745           10,189,001      
 Manila                 54,496              105,206    
 Ho Chi Minh            29,582               47,343
 
 (Reporting by Viparat Jantraprap; Editing by Prateek
Chatterjee)

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