SE Asia Stocks-Thai stocks hit 1-month low amid political tension

Reuters

BANGKOK, Nov 4 (Reuters) - Thai stocks fell to their lowest

in nearly a month on Monday, underperforming others in Southeast

Asia, as cautious investors offloaded riskier holding amid fears

about heightening opposition against the political amnesty bill.

The benchmark SET index was down 1.75 percent at

1,404.06, the lowest since Oct. 2.

Volume remained thin in early trade at 0.2 percent of a

full-day average over the past 30 sessions as investors watched

the domestic political situation after more organisations

expressed disagreement on the bill.

The political concerns would further undermine the broader

market sentiment already gripped by weak economic data for

September, brokers said.

The exchange recorded a combined $108 million of net foreign

selling on Thursday and Friday, with the SET index ending the

week almost 2 percent lower, Southeast Asia's second worst

performer.

"Foreign investors will continue reducing investments in

Thai markets due to economic and political factors... Investors

are now suggested to avoid investment in stocks affected by the

political tension," they wrote.

Tourism-related stocks, including Airports of Thailand Pcl

and hotelier Central Plaza Hotel Pcl dropped

more than 4 percent each, the two biggest percentage losers on

the large cap SET50 index.

Stocks in Singapore, Malaysia and Vietnam

were nearly flat while Indonesia and the

Philippines posted modest losses, with central bank

meetings in Europe and U.S. payrolls report being in focus.

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SOUTHEAST ASIAN STOCK MARKETS

Change at 0335 GMT

Market Current Prev Close Pct Move

TR SE Asia Index* -- 417.72 n/a

Singapore 3205.66 3201.20 +0.14

Kuala Lumpur 1809.44 1810.41 -0.05

Bangkok 1404.06 1429.08 -1.75

Jakarta 4420.33 4432.59 -0.28

Manila 6541.22 6585.38 -0.67

Ho Chi Minh 497.35 497.08 +0.05

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