SE Asia Stocks-Flat to weaker; Thai SET at new low amid political jitters
BANGKOK, Nov 22 (Reuters) - Most Southeast Asian stocks
traded flat to weaker on Friday as investors were wary of the
prospect of a stimulus cut in the United States, with Thai
stocks sliding to fresh 11-week lows amid concerns about
domestic political uncertainty.
Thai SET index was down 0.6 percent at 1,368.24, the
lowest since Sept. 9, after three consecutive days of falls and
was on track to end the week almost 4 percent lower,
underperforming most regional peers.
Strategists at broker KGI Securities expect trading to be
slow ahead of the anti-government rally on Nov. 24.
"Chance for strong recovery is still low due to political
confrontations in Thailand. Risk is higher that the major
investment bill worth 2.0 trillion baht will be blocked at the
court is higher," they wrote in a report.
Shares in large-scale builders including Ch Karnchang Pcl
, Italian Thai Development Pcl and Sino Thai
Engineering and Construction Pcl all traded lower.
In typhoon-hit Philippines, the stock market edged
down 0.3 percent, poised for a weekly loss of 3.8 percent, while
Singapore shares inched down 0.2 percent, set for a
weekly loss of 1 percent.
Stocks in Indonesia and Malaysia pared early
losses to trade nearly unchanged.
Among the bright spots, shares of Malayan Banking
gained 0.6 percent, coming off a near 7-month low hit in the
previous session, after Southeast Asia's fourth-biggest lender
by assets posted its highest quarterly profit since its 1960s
opening.
For Asian Companies click;
For South East Asia Hot Stock reports, click;
SOUTHEAST ASIAN STOCK MARKETS
Change at 0423 GMT
Market Current Prev Close Pct Move
TR SE Asia Index* 400.65 401.81 -0.29
Singapore 3166.40 3172.38 -0.19
Kuala Lumpur 1794.94 1794.65 +0.02
Bangkok 1368.24 1375.86 -0.57
Jakarta 4330.61 4326.21 +0.10
Manila 6103.44 6122.89 -0.32
Ho Chi Minh 505.47 503.54 +0.38