Reuters: Hot Stocks: SE Asia Stocks-Thai stocks retreat, Vietnam rebounds

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SE Asia Stocks-Thai stocks retreat, Vietnam rebounds Aug 9th 2013, 06:33 Tweet Share this Email Print Fri Aug 9, 2013 2:33am EDT BANGKOK, Aug 9 (Reuters) - Thai stocks retreated by midday on Friday as investors cashed-in on recent gainers, including Siam Makro Pcl ahead of a three-day weekend, while Vietnam's benchmark index rose as foreign investors bought blue chips. Bangkok's SET index fell 0.8 percent to 1,435 levels, after four straight sessions of gains and were set to end the week around 1 percent higher. The Thai stock exchange will be closed on Monday for a public holiday. Vietnam's index edged up 0.5 percent after a modest loss of 0.4 percent in the previous session, and is on track for a weekly gain of 1.4 percent, outperforming regional peers. There was profit-taking in the Thai stock market, brokers said, as the main index was capped in negative territory in morning trades. The SET index is expected to move in a range of 1,440-1,460 for the day, strategists at broker Phillip Securities wrote in a report. "The elevated level of volatility is likely to persist in the Thai stock market in the absence of fresh trading cues after domestic political tension temporarily eased in the near term," they said. Thailand's lawmakers passed a political amnesty bill in the first reading on Thursday, while anti-government protesters demanded it be scrapped because exiled former premier Thaksin Shinawatra could then return home a free man.(link.reuters.com/ryj32v) Foreign investors sold Thai shares worth a net $289 million over the past six sessions amid political worries. "The market's attention would shift back to key economic reports out of major economies with a number of economic data due to be released out of China today," they said. Asian shares as measured by MSCI Asia-Pacific ex-Japan were steady after gaining nearly 1 percent on Thursday. Major exchanges in Southeast Asia, including Singapore , Malaysia, Indonesia and the Philippines, are closed for a public holiday, and will re-open on Monday. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0605 GMT Market Current Prev Close Pct Move TR SE Asia Index* 424.87 425.03 -0.04 Bangkok 1435.71 1447.16 -0.79 Ho Chi Minh 500.78 498.22 +0.51 (Reporting by Viparat Jantraprap; Editing by Prateek Chatterjee) Tweet this Link this Share this Digg this Email Reprints Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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