SE Asia Stocks-Weaker on global economic outlook; Malaysia suffers heavy outflow

miércoles 12 de marzo de 2014 07:05 GYT

March 12 (Reuters) - Most Southeast Asian stocks ended
weaker on Wednesday on concerns over sluggish economic growth in
China and the United States, with foreign investors exiting
Malaysian shares. 
    Philippines stock index fell 1 percent, after hitting
a more than four-month high in the previous session, Singapore
shares lost 1 percent, Thailand closed 0.6
percent down, Malaysia lost 0.5 percent, and Indonesia
 ended 0.4 percent weaker. 
    Weak Chinese exports, which tumbled in February, added to
fears of a slowdown in the world's second-largest economy, while
U.S. economic data gave no clear indication of whether the
world's largest economy's troubles were merely weather-related
or something more worrisome. 
    Analysts in Bangkok said the expected interest rate cut by
the central bank to spark growth in a sluggish economy helped to
cap heavy losses. 
    In terms of valuation, Thailand stocks are cheaper with a
12-month forward price-to-earning ratio at 12.6, lower than
Philippines's 16.9, Malaysia's 15.3, Indonesia's 14.2, and
Singapore's 13.7, Thomson Reuters StarMine data showed. 
    Andre Varian, a research analyst with Jakarta-based broker
Ciptadana Securities said Indonesian stocks are still attractive
due to promising economic growth coming from huge domestic
consumption, demographic bonus, relatively sturdy economic
fundamentals in the ASEAN region.
    "However, we never deny that the global impact of such
ongoing recession in the euro area and slowing down economic
growth in China still represent a prominent constraint to stifle
our capital market growth," Varian said.
    Kuala Lumpur suffered $121.51 million net foreign outflow on
Wednesday, while Jakarta and Bangkok witnesses a net outflow of
$11.53 million and $6.97 million respectively on Wednesday.
Manila, however, saw an inflow of $7.63 million. 
    Bucking the trend, Vietnam's benchmark VN Index 
closed up 0.3 percent, gaining for a sixth consecutive session,
with property and energy stocks providing support, but greater
selling erased earlier gains.    

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 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   401.09        404.57       -0.86
 Singapore          3097.43       3129.40       -1.02
 Kuala Lumpur       1818.60       1828.55       -0.54
 Bangkok            1356.42       1364.28       -0.58
 Jakarta            4684.39       4704.21       -0.42
 Manila             6462.47       6529.58       -1.03
 Ho Chi Minh         590.02        588.50       +0.26
 Change on year
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   401.09        388.37       +3.28
 Singapore          3097.43       3167.43       -2.21 
 Kuala Lumpur       1818.60       1866.96       -2.59
 Bangkok            1356.42       1298.71       +4.44
 Jakarta            4684.39       4274.18       +9.60
 Manila             6462.47       5889.83       +9.72
 Ho Chi Minh         590.02        504.63      +16.92
* The Thomson Reuters South East Asia Index               is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
 Stock Market Volume (shares)
 Market          Current Volume    Average Volume 30 days
 Singapore         234,174,200          229,091,143      
 Kuala Lumpur      150,885,200          131,972,290      
 Bangkok             5,342,090            5,645,279      
 Jakarta         5,066,424,800        3,529,934,283    
 Manila                 89,100               83,500    
 Ho Chi Minh           177,884              136,322