BANGKOK: Thai shares eked out slim gains on Wednesday as investors bought banking shares in a dividend reporting season while stocks in Indonesia, Malaysia and most regional bourses slid as concerns over opaque policy moves in China kept investors on edge.

After a range-bound session, Bangkok's SET index ended up 0.06% at 1,304.62. Gainers included Siam Commercial Bank, which announced an attractive dividend early in the week.

Shares of Advanced Info Service and Shin Corporation erased earlier gains amid a call by anti-government protesters to boycott businesses linked to Prime Minister Yingluck Shinawatra.

Trading volume at the Thai bourse was relatively weak after political violence in downtown Bangkok almost every night this week.

Singapore's Straits Times Index fell for a second session, ending down 0.5% at its lowest close in almost one week, while Jakarta's composite index shed 1%, a third session of fall, to a near two-week low.

Malaysia retreated 0.6%, led by an 8.5% drop in shares of budget carrier AirAsia X Bhd after announcing a net loss in its fourth quarter.

Fund flows in the region were mixed, with Malaysia recording net foreign sales RM50mil (US$15.24mil) and the Philippines reporting a net foreign buying of 212.9 million peso (US$4.77mil), stock exchange data showed.

SOUTH-EAST ASIAN STOCK MARKETS

Market Current Prev Close Pct Move

TR SE Asia Index * 394.53 394.98 -0.11

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Southeast Asia Stocks: Most Fall, including M'sia

BANGKOK (Feb 25): Indonesian stocks fell for a second session on Tuesday amid profit-taking in shares such as Kalbe Farma, while Thai stocks trimmed gains with Thai Airways losing ground ahead of earnings.

Jakarta's Composite Index ended down 1 percent at 4,577.29, its lowest close since Feb. 18, extending Monday losses and further coming off a five-month high hit last week.

Kalbe Farma shares eased 1.7 percent after last week's rally as a strong rupiah eased concerns over the company's U.S. dollar cost. Shares of Alam Sutera Realty, among companies that benefit from the rising rupiah, retreated.

The rupiah weakened on Tuesday on dollar demand from importers while offshore funds took profits on the best-performing Asian currency so far this year.

The Thai SET index finished up 0.2 percent, climbing almost 1 percent at one point as bargain hunting emerged in battered politically-sensitive shares such as Advanced Info Service and Shin Corp.

Shares of national carrier Thai Airways dropped 1.5 percent on caution about its fourth quarter results

Somboon Advance Technology eased 1.8 percent as late payments to farmers in the government's rice scheme and an expected widespread drought weighed on the farm machinery market and domestic tractor sales, brokers said.

Stocks in Singapore and the Philippines slipped into negative territory after late selling while Malaysia edged slightly higher, with shares of CIMB Group Holdings Bhd closing nearly flat.

CIMB, Malaysia's second-largest bank, posted a 4.6 percent drop in net profit for the quarter ended December. The report came after market close.

SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 395.18 395.26 -0.02 Singapore 3103.62 3105.84 -0.07 Kuala Lumpur 1833.75 1828.68 +0.28 Bangkok 1303.88 1301.38 +0.19 Jakarta 4577.29 4623.57 -1.00 Manila 6295.55 6296.32 -0.01 Ho Chi Minh 586.20 576.58 +1.67

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SE Asia Stocks

Global rice prices will extend declines as Thailand is forced to offload grain from record stockpiles accumulated under a state-buying program, according to the Vietnam Food Association, the main shippers group.

Exports to China and Africa from the second-largest shipper will drop this year on increased competition from Thailand as well as from India and Pakistan amid a global glut, said Truong Thanh Phong, chairman of the Ho Chi Minh City-based group.

While Thailands reserves built up as the government paid farmers above-market prices since 2011, the program is now short of funds and unpaid growers are demanding stockpile sales. The unrest by the growers adds to opposition targeting Yingluck Shinawatras caretaker administration, which has faced months of demonstrations. Phongs comments reflect concern among exporters about the pace of sales from holdings that are large enough to cover 39 percent of annual world import demand.

The rice market has seen fierce competition for the past two years due to the global surplus, said Phong, who has been chairman of the group for 13 years. Global prices will decline this year because theyre guided by Thai rates, he said.

The price of new-crop Thai 5-percent broken white rice, a benchmark grade, tumbled 23 percent last year and was at $460 a metric ton on Feb. 12. The Vietnamese 5 percent-broken variety is about $395 a ton, higher than $370 for old-harvest Thai grain, Phong said, without giving price forecasts. Rough rice fell 0.3 percent to $15.81 per 100 pounds in Chicago today.

Thailand spent 689 billion baht ($21 billion) in the past two years buying from farmers to boost rural incomes. That spurred the buildup in the inventories to 14.7 million tons this year from 6.1 million tons in 2010, according to the U.S. Department of Agriculture. The program is set to lapse at the end of this month as Prime Minister Yinglucks caretaker administration doesnt have the authority to extend it.

Given the caretaker governments troubles in securing financing to pay farmers for their paddy pledged during the past wet-season crop, it seems likely that they will try to increase sales, said David Dawe, Bangkok-based senior economist at the Food & Agriculture Organization. If they are sold too soon and all at once, the global price will fall, but if they are sold too late then the quality will continue to deteriorate.

Thai farmers blocked roads in the provinces and protested in Bangkok this month, urging a faster pace of sales from the stockpiles so that the government can make missed payments to growers. It may take about five years for the state stockpiles to be sold off and a further slump in prices is possible as more of the grain is shipped out, Thai Rice Exporters Association President Chareon Laothamatas said on Feb. 5.

Thailand plans to sell about 1 million tons a month from stockpiles during the first quarter, Deputy Prime Minister and Commerce Minister Niwattumrong Boonsongpaisan said on Feb. 17. The government will clear all remaining payments to farmers within six to eight weeks using short-term borrowings, Finance Minister Kittiratt Na-Ranong said the same day.

Vietnams exports are forecast at 6.5 million to 7 million tons this year, with shipments of 1.2 million tons seen this quarter and 3.5 million in the first half, Phong said. The country shipped 6.68 million tons in 2013, the lowest level in four years, according to VFA data.

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Rice Rout Seen Extending as Thai Sales Quicken: Southeast Asia

By Tina Johansson For Sun-Times Media February 13, 2014 5:52PM

Royal Thai regulars from nearby Quest Products enjoy lunch. They include Megan Russo (front left) who introduced friends to the place, and Elizabeth Kasbeer. Michael Falls, Shane Voigt and Peter Tukesbrey dine with the group. | Tina Johansson/For Sun-Times Media

storyidforme: 61886788 tmspicid: 22348436 fileheaderid: 10662537

Royal Thai

5324 Grand Ave., Gurnee

847-244-2409

Open Monday to Thursday 11:30 to 9:30 p.m., Friday and Saturday 11:30 to 10 p.m. and Sunday noon to 9 p.m.

In an area saturated by fast-food franchises, Royal Thai restaurant in Gurnee really stands out.

Tucked away in a strip mall across from Six Flags Great America, the place gives the feeling that you are a world away.

Bronze deities greet you at the door, colorful paintings of chi lins Asian mythological creatures hang on a wall, while large hand-carved teak lotus blossoms decorate other areas and incense wafts throughout.

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Step into the exotic for your next lunch

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BANGKOK: Major Southeast Asian stocks rose on Tuesday after active buying in a reporting season and ahead of the Congressional testimony by the new head of the U.S. Federal Reserve, with Thai benchmark capped below a key 1,300 mark amid growing domestic risks. Bangkok's SET index closed up 0.4 percent after a rangebound session that saw the gauge moving in 1,288-1,299 range. Commodities stocks such as PTT Global Chemical Pcl outperformed as a global recovery bolstered earnings outlook. Traders said players were wary of the political deadlock, with the inconclusive Feb. 2 poll and rice farmer protests raising risks going forward. Thai exchange noted a fall in volumes to 83 percent of a full-day average over past 30 days. A member of Thailand's Election Commission said it may prove impossible to complete this month's disrupted election and the whole vote may need to be re-run, implying many months more under a caretaker government with limited powers. Across the exchanges, investors piled into shares of Southeast Asian firms following their strong earnings, including Indonesia's Bank Mandiri Tbk and Singapore Airlines Ltd both up more than 2 percent. HSBC Global Research reiterated an 'overweight' rating on Singapore Airlines, citing the stock's compelling valuation, with a target price of S$12.5 compared to the closing price of S$9.75. Philippine shares outperformed in the region, with the main index up 1 percent at the highest in more than two weeks, with foreign investors buying shares a net 560.6 million peso ($12.46 million). MSCI's broadest index of Asia-Pacific shares outside Japan rose 1.2 percent. Fed Chair Janet Yellen is likely to face questions on the state of the labour market and the future pace of tapering when she appears before the House Financial Services Committee on Tuesday.

SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 384.23 381.49 +0.72 Singapore 3029.10 3017.20 +0.39 Kuala Lumpur 1824.17 1816.14 +0.44 Bangkok 1296.25 1290.66 +0.43 Jakarta 4470.19 4450.75 +0.44 Manila 6106.03 6042.25 +1.06 Ho Chi Minh 553.90 555.90 -0.36 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 384.23 388.37 -1.07 Singapore 3029.10 3167.43 -4.37 Kuala Lumpur 1824.17 1866.96 -2.29 Bangkok 1296.25 1298.71 -0.19 Jakarta 4470.19 4274.18 +4.59 Manila 6106.03 5889.83 +3.67 Ho Chi Minh 553.90 504.63 +9.76 * The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Stock Market Volume (shares) Market Current Volume Average Volume 30 days Singapore 126,246,100 188,706,700 Kuala Lumpur 137,574,000 120,652,577 Bangkok 3,951,026 4,770,342 Jakarta 3,837,099,200 2,830,539,050 Manila 69,315 71,144 Ho Chi Minh 175,048 91,995- Reuters

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Southeast Asian Stocks: Thai, M'sia, S'pore upp; Philippines outperforms

BANGKOK: Singapore stocks pared losses to rise on Monday as active buying in midcaps such as Genting Singapore outweighed concerns about a proposed reform of market rules, while Thai shares retreated as protests by rice farmers added to the political uncertainty. Singapore's main index ended up 0.1 percent at 3,017.20, bouncing off the day's low of 3,003.48. Genting Singapore rose 1.8 percent and was the top percentage gainer, buoyed by a brokerage upgrade and its plan to develop a $2.2 billion casino resort in South Korea. Shares of bourse operator Singapore Exchange fell 1 percent, the biggest percentage loser on the benchmark, as the proposed market reforms, released late on Friday, worried investors of a possible fall in trading volumes. The Thai SET index closed 0.5 percent lower from a two-week closing high of 1,296.49 in the previous session, amid political problems and technical-led selling around 1,300 level, brokers said. More than 1,000 farmers protested outside the Thai government's temporary headquarters on Monday over the state's failure to pay for rice bought under a subsidy scheme that the caretaker administration admits it is struggling to fund. Indonesian shares ended 0.4 percent lower, dragged down by late selling as investors trimmed risk positions ahead of Bank Indonesia's interest rate review later in the week. Jakarta rallied last week, helped by a set of favourable economic data. Malaysia rose 0.4 percent as local institutions led buyers, while the Philippines was up 0.5 percent, with foreign investors buying a net 43.6 million peso ($969,000), stock exchange data showed. Vietnam's benchmark VN Index climbed 1.12 percent as investors picked up blue chips that fell over the past few sessions. SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 381.75 381.62 +0.03 Singapore 3017.20 3013.14 +0.13 Kuala Lumpur 1816.14 1808.59 +0.42 Bangkok 1290.66 1296.49 -0.45 Jakarta 4450.75 4466.67 -0.36 Manila 6042.25 6011.14 +0.52 Ho Chi Minh 555.90 549.76 +1.12 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 381.75 388.37 -1.70 Singapore 3017.20 3167.43 -4.74 Kuala Lumpur 1816.14 1866.96 -2.72 Bangkok 1290.66 1298.71 -0.62 Jakarta 4450.78 4274.18 +4.13 Manila 6042.25 5889.83 +2.59 Ho Chi Minh 555.90 504.63 +10.16 * The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Stock Market Volume (shares) Market Current Volume Average Volume 30 days Singapore 198,728,300 184,142,673 Kuala Lumpur 118,516,100 119,982,023 Bangkok 4,227,391 4,723,190 Jakarta 3,690,606,500 2,796,345,300 Manila 76,107 70,204 Ho Chi Minh 110,187 90,400- Reuters

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Southeast Asia Stocks: Thai falls, M'sia and S'pore up

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