SE Asia Stocks -Indonesia off highs; Thai index up on low free float stocks
BANGKOK, Jan 26 (Reuters) - The Indonesian key stock index
retreated on Monday from a record close in the previous session
as investors booked quick profits while the Thai benchmark eked
out further gains, breaching the key 1,600 level, amid selective
trading in low free-float stocks.
Stocks in Singapore and Malaysia snapped
rising streaks, with others markets trimming gains as global
markets turned cautious after Greece's Syriza party promised to
roll back austerity measures after its victory in a snap
election.
Jakarta's composite index fell almost 2 percent to
5,222.72, coming off a record close of 5,323.89 hit on Friday,
when investors cheered the European Central Bank's
larger-than-expected bond-buying programme.
Broker BNI Securities said in a report that JCI is "prone to
profit taking".
Shares of Bank Mandiri dropped 3.5 percent after a
surge on Friday to a record closing high amid a rights offering
planned in the next six months and as investors awaited the
quarterly financial results of banks.
Bangkok's SET index was up 0.4 percent amid trading
in shares of Bank of Ayudhya and CIMB Thai Bank
, among stocks which have a small portion of
publicly-traded shares.
Bank of Ayudhya is 76.88 percent owned by Japan's Mitsubishi
UFJ Financial Group (MUFG) while CIMB Thai Bank is 93.7
percent owned by Malaysia's CIMB Bank Bhd, stock
exchange data shows.
Brokers expected weak trading sentiment in the near term.
"Concerns about Greece exiting the euro zone could rise and
lead to volatility in equities, commodities and FX markets in
the near-term," broker KGI Securities said in a report.
Singapore's Straits Times Index eased 0.33 percent
after a fifth straight gain on Friday to the highest since May
2013, while Malaysia's index fell 0.5 percent, poised to
snap three sessions of gains.
Stocks in the Philippines recovered from early losses
while Vietnam traded nearly flat after slipping at one
point.
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SOUTHEAST ASIAN STOCK MARKETS
Change at 0722 GMT
Market Current Prev Close Pct Move
Singapore 3400.23 3411.50 -0.33
Kuala Lumpur 1793.89 1803.08 -0.51
Bangkok 1604.12 1598.33 +0.36
Jakarta 5222.72 5323.88 -1.91
Manila 7586.67 7548.93 +0.50
Ho Chi Minh 582.86 582.38 +0.08
(Reporting by Viparat Jantraprap; Additional reporting by
Fransiska Nangoy in Jakarta; Editing by Anupama Dwivedi)