SE Asia Stocks-Thailand snaps four-day losing streak

Last Updated: Thu, Oct 13, 2016 16:40 hrs

By Susan Mathew Oct 13 (Reuters) - Thai stocks closed nearly half a percent higher on Thursday, snapping a four-day losing streak, while most other Southeast Asian markets declined on soft Chinese data. The Thai stock index had fallen every day this week following a statement by the palace on Sunday that King Bhumibol Adulyadej was in an "unstable condition" after receiving haemodialysis treatment. The palace said late on Wednesday that the health of the 88-year-old King had "overall not yet stabilised". Thursday's gains were led by consumer staples and industrials, with Charoen Pokphand Foods Pcl and Airports of Thailand Pcl rising 5.2 percent and 1.7 percent respectively. MSCI's broadest index of Asia-Pacific shares outside Japan fell just over 1 percent, touching its lowest since Sept. 19, after Chinese data showed a sharp decline in exports, reviving concerns about the health of the world's second-biggest economy. China's exports fell 10 percent in September from a year earlier, far worse than the expected 3 percent fall, while imports unexpectedly shrank after picking up in August. That left the trade surplus for the month at $41.99 billion, compared with a $53 billion expected by analysts. Risk appetite also remained subdued by a report that the Bank of Japan was likely to trim its inflation forecast for the next fiscal year in a quarterly review. "It is an amalgamation of uncertainty and unfavourable market conditions right now. The markets are reacting to a very gloomy sentiment," said Victor Felix, an analyst with Manila-based AB Capital Securities. The Manila market fell for the seventh consecutive session to post its lowest close since late May. Financial and real estate sectors led the fall, with property developer SM Prime Holdings Inc and real estate conglomerate Ayala Land Inc shedding over 5 and 4 percent respectively. Singapore stocks fell to their lowest in three months, pulled down by industrials and consumer services. Indonesia declined 0.5 percent, while Vietnam posted a 0.4 percent gain. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on day Market Current Previous Close Pct Move Singapore 2805.48 2813.71 -0.29 Bangkok 1412.82 1406.18 0.47 Manila 7312.18 7429.82 -1.58 Jakarta 5340.4 5364.611 -0.45 Kuala Lumpur 1665.02 1667.03 -0.12 Ho Chi Minh 685.23 682.45 0.41 Change on year Market Current End 2015 Pct Move Singapore 2805.48 2882.73 -2.68 Bangkok 1412.82 1288.02 9.69 Manila 7312.18 6952.08 5.18 Jakarta 5340.4 4593.008 16.27 Kuala Lumpur 1665.02 1692.51 -1.62 Ho Chi Minh 685.23 579.03 18.34 (Reporting by Susan Mathew in Bengaluru; Editing by Subhranshu Sahu)



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