Southeast Asian stocks mostly lower, Malaysia flat

  • Business
  • Wednesday, 01 Oct 2014

BANGKOK: Southeast Asian stock markets ended mostly lower on Tuesday amid weaknesses in Asian stocks and political unrest in Hong Kong, but late buying in PTT  after gas price hikes helped the Thai index recoup early losses.
    Thailand's military-backed government said it will raise
prices of liquefied petroleum gas (LPG) for transportation and
natural gas for vehicles (NGV) from Oct. 1, as part of its
energy reforms. 
    PTT said it expected losses incurred from its NGV business
would reduce by 2 billion baht ($61.7 million) per year after
the NGV price hike of 1 baht/kg to 11.50 baht, sending its stock
1.98 percent higher, the biggest one-day gain in four weeks.
    The SET index ended nearly flat, rebounding from an
intraday low of 1,581.17. The benchmark rose 6.7 percent in the
July-September period, its third straight quarterly gain and was
the best performer in Southeast Asia.
    Asian markets were in a hesitant mood on Tuesday as
investors wondered what China's response would be to civil
unrest in Hong Kong. 
    Investors also looked forward to the European Central Bank
policy meeting on Thursday to gauge the direction of fund flows
to the region, according to brokers. 
    Most Southeast Asian stocks notched up gains for the three
months ended September. The Philippines rose 6.4 percent,
Indonesia put on 5.3 percent, Vietnam 3.6 percent
and Singapore 0.7 percent.
    Malaysia bucked the trend, falling 1.9 percent.

 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          3276.74       3289.72       -0.39
 Kuala Lumpur       1846.31       1846.34        0.00
 Bangkok            1585.67       1585.79       -0.01
 Jakarta            5137.58       5142.01       -0.09
 Manila             7283.07       7265.36       +0.24
 Ho Chi Minh         598.80        599.78       -0.16
 Change on year
 Market             Current       End 2013    Pct Move
 Singapore          3276.64       3167.43       +3.45
 Kuala Lumpur       1846.31       1866.96       -1.11
 Bangkok            1585.67       1298.71      +22.10
 Jakarta            5137.58       4274.18      +20.20
 Manila             7283.07       5889.83      +23.66
 Ho Chi Minh         598.80        504.63      +18.66
 (1 US dollar = 32.4000 Thai baht)- Reuters
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