SE Asia Stocks-Most indexes down on China's growth concerns; Thai bucks trend
Sept 22 (Reuters) - Most Southeast Asian markets ended lower on Monday on concerns over sluggish economic growth in China as investors awaited data this week that could provide more evidence of a slowdown in the world's second largest economy. Muhamad Alfatih, an analyst with Samuel Sekuritas Indonesia in Jakarta said the market was concerned about comments made by China's finance minister. China's Finance Minister Lou Jiwei on Sunday said China will not dramatically alter its economic policy because of any one economic indicator, in remarks at a meeting of finance ministers and central bank chiefs from the G20 nations. His remarks came days after many economists lowered growth forecasts, having seen the latest set of weak data. Growth in China's large factory sector probably stalled in September, adding to worries the economy could be at risk of a sharper slowdown unless Beijing rolls out more stimulus measures, a Reuters poll showed on Monday, a day ahead of China's flash manufacturing PMI release. The Jakarta Composite Index (JCI) closed down 0.2 percent, Malaysia ended 0.2 percent weaker, while the Philippines ended 0.1 percent lower. Vietnam failed to hold on to early gains and ended down 0.2 percent, while Singapore fell 0.3 percent. In Jakarta, analysts expect the correction to continue as the market awaits more clarity on the fuel price policy by president-elect Joko Widodo. Bucking the trend, Thailand's SET index ended up 0.3 percent. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 3296.57 3305.05 -0.26 Kuala Lumpur 1846.05 1849.49 -0.19 Bangkok 1589.51 1584.91 +0.29 Jakarta 5219.80 5227.29 -0.15 Manila 7279.86 7287.29 -0.10 Ho Chi Minh 611.93 611.93 -0.22 Change on year Market Current End 2013 Pct Move Singapore 3296.57 3167.43 +4.08 Kuala Lumpur 1846.05 1866.96 -1.12 Bangkok 1589.51 1298.71 +22.39 Jakarta 5219.80 4274.18 +22.12 Manila 7279.86 5889.83 +23.60 Ho Chi Minh 611.93 504.63 +21.26 (Reporting by Shihar Aneez; Additional reporting by Fransiska Nangoy in Jakarta; Editing by Anand Basu)
© Thomson Reuters 2016 All rights reserved.