BANGKOK, Dec 27 (Reuters) - Thai stocks underperformed in
Southeast Asia on Friday as investors dumped shares on the final
trading day of the year amid mounting political uncertainty and
a proposed delay in February elections which the government has
Other share markets rose in a thin market, with Asian shares
notching up gains after another powerful performance by Wall
Street. Shares in Malaysia led the pack, with the key index
climbing 0.9 percent to 1,859.91, a record high.
Thai benchmark SET index shed 1.3 percent by midday
to 1291.34, sliding at one point to 1,288.02, the lowest since
Aug. 30. Shares of mall operator Central Pattana Pcl
and hotelier Minor International Pcl were among
Trading volumes on the Thai stock market dropped off as
investors stayed on the sidelines ahead of a five-day weekend.
The market will reopen on Dec. 2.
The index is poised to end the year 7.23 percent lower,
underperforming its regional peers and the third-worst performer
in Asia. It rallied 35.8 percent last year, Southeast Asia's
Brokers said the political conflicts pointed to near-term
"We believe the overhang will persist in January given a
significantly different stance between the government and
protesters," strategists of broker KGI Securities wrote in a
The baht traded in 32.76-32.82 range against the
dollar so far on the day, in sight of the weakest level since
March 2010, amid a drop in factory output in November.
Stocks in Singapore rose 0.5 percent to their
highest in more than three weeks, while Indonesia was up
0.4 percent on resuming trade after holidays. Vietnam
rose 0.56 percent due to gains in blue chips.
Philippine shares edged up 0.5 percent, on track for
a slim gain of 1.6 percent for 2013, after a nearly 33 percent
surge in 2012. The Philippines is heading for a five-day
weekend, resuming on Dec. 2.
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SOUTHEAST ASIAN STOCK MARKETS
Change at 0549 GMT
Market Current Prev Close Pct Move
TR SE Asia Index* 384.91 384.64 +0.07
Singapore 3151.80 3134.36 +0.56
Kuala Lumpur 1859.91 1844.10 +0.86
Bangkok 1291.34 1308.46 -1.31
Jakarta 4218.20 4202.83 +0.37
Manila 5903.27 5878.32 +0.42
Ho Chi Minh 509.40 506.55 +0.56