BANGKOK, Oct 31 (Reuters) - Southeast Asian stock markets
mostly slipped on Thursday, with Indonesia losing the most as
investors cut risk exposures after the U.S. Federal Reserve's
policy outlook was seen as less dovish than expected.
Jakarta's Composite Index dropped 1.7 percent to
4,497.12, trimming its gain so far this month to 4.2 percent,
after a 2.9 percent rise a month earlier.
Large caps underperformed the broader market, with the blue
chip index down 2.1 percent. Selling was most active
in Bank Rakyat Indonesia, Bank Mandiri and
Perusahaan Gas Negara.
In Bangkok, the benchmark SET index edged down 0.02
percent after a 1.7 percent drop on Wednesday due to political
concerns. It is set to extend its gain for a second month, up
Short covering helped reverse losses in shares of large caps
including Advanced Info Service. Industrial
conglomerate Siam Cement lost 1 percent after its
downbeat 2013 revenue forecast.
"Rising political tension over the amnesty bill will likely
remain the key factor to dampen market sentiment today ...
Although the SET may experience an intraday technical rebound,
we would trade cautiously," broker Krungsri Securities said in a
The Thai lower house debated a political amnesty bill on
Thursday which is seen as aiming to annul legal cases involving
a coup in 2006, while anti-government protesters vow to begin a
rally later in the day.
In Singapore, weak quarterly earnings triggered selling in
shares, with property developer CapitaLand Ltd losing
1 percent, underperforming the Straits Times Index
which fell 0.2 percent.
Philippine shares bucked the trend, with the main index
edging up 0.07 percent after falling almost 1 percent on
Thursday morning. Trading volume was 1.2 times the full-day
average over the past 30 sessions.
The Philippine stock exchange will be shut on Friday for a
market holiday and will resume trading on Monday.
Southeast Asian shares are on track to post gains for a
second successive month, with Singapore poised for a 1.8 percent
rise, Malaysia set to add 2.3 percent, the Philippines 6.6
percent and Vietnam 1.3 percent.
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SOUTHEAST ASIAN STOCK MARKETS
Change at 0545 GMT
Market Current Prev Close Pct Move
TR SE Asia Index* 420.36 423.26 -0.69
Singapore 3222.98 3230.44 -0.23
Kuala Lumpur 1808.77 1817.38 -0.47
Bangkok 1430.84 1431.12 -0.02
Jakarta 4497.12 4574.88 -1.70
Manila 6601.52 6597.21 +0.07
Ho Chi Minh 498.82 499.07 -0.05
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