Thai shares retreated on Thursday as weak quarterly earnings weighed on PTT and other large caps, while trading was mixed in other Southeast Asian markets after the United States reported lacklustre retail sales numbers for April.

US retail sales were flat in April as households cut back on purchases of automobiles and other big-ticket items, the latest sign the economy was struggling to rebound strongly after barely growing in the first quarter.

Bangkok’s SET index was down 0.5 per cent, giving up gains from the previous day.

Shares of energy firm PTT, the biggest firm by market value, eased 0.6 per cent after the net profit fell 21 per cent in the first quarter.

Although the results beat expectations, volatile global oil prices made market players wary of the company’s outlook, brokers said.

Hotelier Minor International dropped 5.6 per cent as its core profit in the March quarter came lower than forecasts, analysts said.

Singapore’s key Straits Times Index eased 0.2 per cent, reversing from Wednesday’s rebound.

“We expect the local bourse to trade within a narrow range today as there’s little to spur movement either way,’’ said Singapore-based NRA Capital in a report.

Indexes in Malaysia, the Philippines and Vietnam posted modest gains.

MSCI’s broadest index of Asia-Pacific shares outside Japan was virtually flat, while US stocks overnight ended little changed.

Large caps in Southeast Asia fell after reporting earnings. Singapore Telecommunications Ltd was down 0.2 per cent after a small rise in quarterly net profit.

Bloomberry Resorts Corp dropped 12.6 per cent after a quarterly net loss. Indonesia was closed on Thursday for a public holiday, and will reopen on Friday.

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