REFILE-SE Asia Stocks -Indonesia shares snap gains; election result awaited

Last Updated: Tue, Jul 22, 2014 16:40 hrs

(Refiles to add "SE" before Asia in headline) BANGKOK, July 22 (Reuters) - Indonesian shares snapped two days of gains and fell on Tuesday amid worries about potential unrest over the presidential election result while the Thai index hit a near two-week low on selling in telecoms and construction shares. The likely loser in Indonesia's presidential race made a last-gasp attempt to delay the announcement of the official election results on Tuesday, expected to declare Jakarta Governor Joko "Jokowi" Widodo as the nation's next leader. Former general Prabowo Subianto withdrew his presidential candidacy after denouncing the election process as undemocratic, an official from his party said on Tuesday. "The presidential race was tight and Prabowo finished a press conference, stating that he rejected the presidential election," said Jakarta-based John Teja, director of broker Ciptadana Securities. Jakarta's composite index fell as much as 2.2 percent to the lowest since July 14. It closed down 0.9 percent after notching a combined 1.1 percent gain over the past two sessions. Domestic investors led sellers of shares in large cap companies such as Telekomunikasi Indonesia. The market posted a modest net foreign buying worth 6.0 billion rupiah ($518,200) after Monday's 22.8 billion rupiah ($1.97 million) of outflows, Thomson Reuters data showed. The Thai index was down 1.2 percent at 1,520.81, the lowest since July 10. Shares of top telecom firm Advanced Info Service slid 3.7 percent, taking its loss in three days to almost 9 percent, after the military government postponed last week an auction of fourth generation (4G) mobile phone bandwidth. Shares of Ch Karnchang and other builders suffered late selling after the government said its meeting earlier on the day did not discuss infrastructure investments as investors earlier expected. Elsewhere, the Philippine index edged slightly lower due to foreign outflows in big caps including Alliance Global Group, stock exchange data showed. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 441.95 443.51 -0.35 Singapore 3316.91 3314.27 +0.08 Kuala Lumpur 1871.36 1868.64 +0.15 Bangkok 1520.81 1538.55 -1.15 Jakarta 5083.52 5127.12 -0.85 Manila 6869.94 6874.88 -0.07 Ho Chi Minh 597.98 601.04 -0.51 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 441.95 388.37 +13.80 Singapore 3316.91 3167.43 +4.72 Kuala Lumpur 1871.36 1866.96 +0.24 Bangkok 1520.81 1298.71 +17.10 Jakarta 5083.52 4274.18 +18.94 Manila 6869.94 5889.83 +16.64 Ho Chi Minh 597.98 504.63 +18.50 * The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. ($1 = 11590.0000 Rupiahs) (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)

More from Sify: