SE Asia Stocks

Posted: February 25, 2014 at 6:50 am


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BANGKOK (Feb 25): Indonesian stocks fell for a second session on Tuesday amid profit-taking in shares such as Kalbe Farma, while Thai stocks trimmed gains with Thai Airways losing ground ahead of earnings.

Jakarta's Composite Index ended down 1 percent at 4,577.29, its lowest close since Feb. 18, extending Monday losses and further coming off a five-month high hit last week.

Kalbe Farma shares eased 1.7 percent after last week's rally as a strong rupiah eased concerns over the company's U.S. dollar cost. Shares of Alam Sutera Realty, among companies that benefit from the rising rupiah, retreated.

The rupiah weakened on Tuesday on dollar demand from importers while offshore funds took profits on the best-performing Asian currency so far this year.

The Thai SET index finished up 0.2 percent, climbing almost 1 percent at one point as bargain hunting emerged in battered politically-sensitive shares such as Advanced Info Service and Shin Corp.

Shares of national carrier Thai Airways dropped 1.5 percent on caution about its fourth quarter results

Somboon Advance Technology eased 1.8 percent as late payments to farmers in the government's rice scheme and an expected widespread drought weighed on the farm machinery market and domestic tractor sales, brokers said.

Stocks in Singapore and the Philippines slipped into negative territory after late selling while Malaysia edged slightly higher, with shares of CIMB Group Holdings Bhd closing nearly flat.

CIMB, Malaysia's second-largest bank, posted a 4.6 percent drop in net profit for the quarter ended December. The report came after market close.

SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 395.18 395.26 -0.02 Singapore 3103.62 3105.84 -0.07 Kuala Lumpur 1833.75 1828.68 +0.28 Bangkok 1303.88 1301.38 +0.19 Jakarta 4577.29 4623.57 -1.00 Manila 6295.55 6296.32 -0.01 Ho Chi Minh 586.20 576.58 +1.67

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SE Asia Stocks

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Written by simmons |

February 25th, 2014 at 6:50 am

Posted in Thai Chi




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