Southeast Asian Stocks-Mostly lower on financials

Southeast Asian stocks closed mostly lower on Tuesday, led by banks such as Thailand's
Kasikornbank PCL as investors fretted over potential capital writedowns and a U.S. slowdown loomed.
Thailand stocks .SETI were 0.49 percent lower at 1021 GMT, driven by uncertainties over the country's political situation and subprime fears. Financials such as Bank of Ayudhya BAY.BK and Kasikornbank PCL KBAN.BK led falls, dropping over 1 percent.
"The banks are really not doing well. The markets are uncertain this week on the possibility of more subprime writedowns by the big-name banks," said a Singapore-based trader.
Thailand's Election Commission also ruled on Tuesday a top politician of the ruling People Power Party was guilty of vote buying in a December poll, which could possibly lead to a
dissolution of the party.
"The speaker getting charged was a factor weighing on the market," said Christopher Wong, a fund manager with Aberdeen Asset Management who manages $20 billion worth of assets. Wong added he would adopt a cautious approach going forward.