Southeast Asian stocks fall
21 December 2015, Nirapad News: Most Southeast Asian stock markets fell on Monday as weak oil prices hit energy shares, with the Thai benchmark touching a one-week low as key telecoms shares faced more selling pressure amid concerns over high 4G bidding prices and rising competition.
Thai key SET index fell 1.1 per cent to the lowest since Dec. 14, led by a 20 per cent plunge in shares of Total Access Communication and a 14 per cent decline in shares of Jasmine International. The lengthy auction for two 4G spectrum licences ended on Saturday at high prices of 151.95 billion baht ($4.2 billion), with Jasmine and True Corp the winning bidders. Malaysia’s index touched a near one-week low, led by a 4.0 per cent slide in oil and gas service firm Sapurakencana Petroleum. Singapore’s index eased 0.3 per cent, with Keppel Corp among underperformers. Stocks in Vietnam slipped amid foreign selling, while Indonesia and the Philippines recouped early losses. Most share markets saw thin trading volumes ahead of public holidays in the region later in the week.