SE Asia Stocks-Thailand ends lower; Vietnam rises most in over 2 months

* Thailand closes 0.8 percent lower
* Vietnam ends at near 8-week high
* Other markets trade in flat-to-low range

By Ambar Warrick
Feb 11 (Reuters) - Thai stocks closed lower on Monday,
falling most in the Southeast Asia region amid political turmoil
in the country, while Vietnam markets surged as trade resumed
after a week-long holiday.
The Thai benchmark ended 0.8 percent lower. Mobile
services provider Advanced Info Service fell about
3.7 percent, while Airports of Thailand ended 1.5
percent lower. Both stocks were the biggest drags on the Thai
Meanwhile, the country's election panel disqualified the
sister of the king from running for prime minister, putting an
end to the controversial, short-lived candidacy by echoing King
Maha Vajiralongkorn's words that royalty should be "above
The announcement came after market hours.
On the other hand, Vietnam benchmark ended about 1.9
percent higher as trade resumed after a week-long Lunar New Year
holiday. Gains on the benchmark were largely broad-based, with
real estate and financial stocks in the lead.
The index clocked its best session since early-December, and
was at a near 8-week high.
Shares of property developer Vingroup gained about
4.3 percent, while those of Joint Stock Commercial Bank for
Foreign Trade of Vietnam ended 2.8 percent higher.
Other Southeast Asian markets traded in a flat-to-low range
as markets adopted a wait and see approach with trade
negotiations between the U.S. and China recommencing from
Singapore stocks pared early losses to end largely
flat. Liu Jinshu, head of research at Tayrona Financial said
there was some resistance emerging above the 3,200 level,
particularly due to the market being unable to make significant
progress above that level on Friday.
Worries over the Chinese economy have cast a shadow over
Singapore's prospects, owing to the island nation's large
electronic exports to the country.
A U.S. delegation arrived in Beijing on Monday to recommence
talks, ahead of the March 1 deadline to reach a trade deal.
China is Southeast Asia's largest trading partner, and its trade
tiff with the U.S. has exacted a heavy toll on the region.

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Change on the day
Market Current Previous close Pct Move
Singapore 3206.27 3202.04 0.13
Bangkok 1638 1651.68 -0.83
Manila 8061.54 8070.89 -0.12
Jakarta 6495.002 6521.663 -0.41
Kuala Lumpur 1688.56 1686.52 0.12
Ho Chi Minh 926.1 908.67 1.92

Change on year
Market Current End 2018 Pct Move
Singapore 3206.27 3068.76 4.48
Bangkok 1638 1563.88 4.74
Manila 8061.54 7466.02 7.98
Jakarta 6495.002 6194.498 4.85
Kuala Lumpur 1688.56 1690.58 -0.12
Ho Chi Minh 926.1 892.54 3.76

(Reporting by Ambar Warrick in Bengaluru; Editing by Rashmi

First Published: 2019-02-11 06:15:57
Updated 2019-02-11 11:52:29

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