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Thai Shares Retreat; Suspension of 4G Auction Hits Large-Cap

Bareksa18 Juli 2014
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Thai Shares Retreat; Suspension of 4G Auction Hits Large-Cap
Passersby are reflected on in electronic graph showing recent movements of the Hang Seng Index outside a brokerage in Tokyo July 14, 2014 - (REUTERS/Issei Kato)

Thailand's military government suspended the 4G auction for one year with immediate effect.

Bareksa.com - Thai shares retreated on Fridayas the suspension of an auction of fourth-generation (4G) mobile licences triggered sell-offs in telecoms stocks, while sentiment in Southeast Asia was broadly weak after the downing of a Malaysia Airlines passenger plane over Ukraine.

Thailand's military government suspended the 4G auction for one year with immediate effect, a move that could lead to a loss in investment and revenue in a sector that accounts for a tenth of the economy.

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Shares of the country's biggest telecoms firm, Advanced Info Service Pcl, dropped 5.3 percent, while second-ranked Total Access Communication fell 2.7 percent and No. 3 player True Corporation eased 0.8
percent.

The suspension made the growth outlook for telecom operators less attractive, said Parin Kitchartornpitak, a senior analyst with KTB Securities.

"4G is a growth story for the telecoms firms," he said.

The benchmark SET index was down 0.36 percent, trimming its gain so far in the week to 0.8 percent.

In Kuala Lumpur, shares of Malaysia Airlines System Bhd (MAS) fell sharply after one of its planes was downed in Ukraine, raising pressure on the state-run carrier to try to restore investor confidence after the second major disaster in months.

Malaysia's key index was down 0.5 percent, heading for a similar weekly loss.

Among winners on the week, Singapore is poised to extend gains for a fourth week, adding 0.3 percent, and Indonesia is set to rise 1.1 percent for a third week.

Asian shares sagged on Friday and a drop in Treasury bond yields put pressure on the dollar after the downing of a Malaysian Airlines passenger plane over Ukraine sent investors scurrying into defensive assets. (Source : Reuters)

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Produk EksklusifHarga/Unit1 Bulan6 BulanYTD1 Tahun3 Tahun5 Tahun

Trimegah Dana Tetap Syariah Kelas A

1.382,65

Up0,56%
Up4,26%
Up7,54%
Up8,69%
Up19,21%
-

Trimegah Dana Obligasi Nusantara

1.093,4

Up0,43%
Up4,43%
Up6,99%
Up7,44%
Up2,54%
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STAR Stable Amanah Sukuk

autodebet

1.079,4

Up0,60%
Up3,98%
Up7,06%
Up7,74%
--

Capital Fixed Income Fund

1.844,45

Up0,53%
Up3,89%
Up6,66%
Up7,38%
Up17,02%
Up40,39%

Insight Renewable Energy Fund

2.270,42

Up0,81%
Up3,88%
Up6,54%
Up7,20%
Up20,19%
Up35,64%

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