BANGKOK, Feb 16 — Thailand’s main stock index snapped a three-day rising streak today as investors cut risk holdings after disappointing economic data, while banking shares fell in Indonesia a day before the central bank’s interest rate decision.
Bangkok’s SET index finished down 0.5 per cent, retreating from Friday’s rise to the highest close in more than 20 months.
Investors sold recent gainers such as Advanced Info Service, while telecoms group Jasmine International fell in line with a weak debut of its newly listed Jasmine Broadband Internet Infrastructure Fund.
Thailand’s economy grew a less than expected 1.7 per cent in October-December from the prior three months, and expanded 2.3 per cent from a year earlier, the planning agency said today.
The Jakarta composite index ended 0.9 per cent lower with most banking shares down. Bank Mandiri shares led the fall with a 1.1 per cent drop, as foreign investors turned net sellers, Thomson Reuters data showed.
Indonesia’s central bank is expected to keep its benchmark interest rate steady on Tuesday, even though inflation has cooled and 2014 economic growth was the weakest in five years.
Stocks in Singapore, Malaysia and the Philippines closed the day moderately higher after a range-bound session.
Singapore’s Cosco Corp closed nearly 1 per cent down before it announced earnings for 2014. The group net profit fell nearly 32 per cent.
Vietnam’s stock market will be closed from today through February 23 for the Lunar New Year holidays.
Malaysia and Singapore will be closed on Thursday and Friday, and Indonesia and the Philippines on Thursday. — Reuters
