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Thai shares at 16-month lows; Indonesia falls on selling in large caps

Published on Jan 6, 2014 1:29 PM

BANGKOK (Reuters) - Thai stocks hit 16-month lows on Monday as concerns over the impact of political turmoil on the economy spurred selling in shares of banking and telecoms firms while Indonesian stocks fell to their lowest in nearly two weeks on active selling in large caps.

The Thai SET index fell 0.9 per cent to 1,213.17, slipping at one point to 1,205.44, the lowest since August 2012.

Shares of Kasikornbank, Advanced Info Service and Siam Commercial Bank were among the actively traded stocks.

Broker Maybank Kim Eng Securities said it expected the index to move in a range of 1,200-1,240 on the day while KGI Securities said the domestic political turmoil would keep the market rangebound.

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