BANGKOK: Most Southeast Asian stocks were flat-to-weaker on Friday, in line with broader Asia, while Thai stocks extended losses amid rising political tensions, and were poised to end the month with their worst monthly drop since August.
The Thai SET index was down 0.4 per cent at mid-day, taking its fall so far this month to 6.2 per cent and a year-to-date loss of 2.8 per cent, Asia's second-worst performer.
Anti-government demonstrators plan to march towards the headquarters of Thai Prime Minister Yingluck Shinawatra's ruling party on Friday, forging ahead with a campaign to overthrow her after rejecting her call for dialogue.
Strategists at broker Phillip Securities expect the SET to move in a trading range of 1,340-1,380 during the day. The index was at 1,353.65 at mid-day.
Tourism-related stocks, including airport operator Airports of Thailand and hotelier Central Plaza Hotel, were among losers as more countries have issued travel warnings for Thailand.
"Thirty-two countries have issued travel warnings for Thailand due to ongoing political uncertainty, a move that could likely deal a blow to tourism this quarter and well into next quarter," Strategists of Phillip wrote in a report.
Singapore's Straits Times Index was down 0.4 per cent while Jakarta's Composite Index inched down 0.04 per cent as the rupiah was on track to post the biggest slide among emerging Asian currencies.
Stocks in Malaysia, the Philippines and Vietnam bounced off their intraday lows, while the MSCI Asia-Pacific ex-Japan index was range-bound after hitting a 1-week closing high on Thursday
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