SE Asia Stocks -Indonesia hits over 7-wk low; Thai down after weak exports data

lunes 29 de septiembre de 2014 02:36 GYT
 

BANGKOK, Sept 29 (Reuters) - Southeast Asian stock markets
were flat to weaker on Monday amid weaknesses in regional
currencies, with the Indonesian benchmark hitting its lowest in
more than seven weeks on concerns about political development
while Thai shares eased after weak exports data.
    Jakarta's composite index (JCI) was nearly flat at
5,133.14 after touching 5,082.73, the lowest since Aug. 8,
earlier in the day. Bank Mandiri and Telkom Indonesia
 led among losers amid foreign-led selling in large
caps.
    The Indonesian rupiah hit a seven-month low on worries about
political uncertainty and in response to the U.S. dollar's broad
strength. 
    Broker BNI Securities said in a note that the correction was
prompted by the weakening rupiah.
    Concerns remained about political stability after
president-elect Joko Widodo's Indonesian Democratic Party failed
to secure the political support needed to scuttle the
legislation ending direct elections for governors and mayors.
 
    "Since last week, the JCI has been hit by adverse political
news on the parliament approval of legislation to end direct
elections to regional posts, which carried over into this week,"
said Harry Su, head of research at broker Bahana Securities.
    Bangkok's SET index eased 0.2 percent, led by a 1
percent loss in Bangkok Bank and a 1.6 percent drop in
True Corporation.
    The baht earlier fell to 32.35, the lowest since
July 9. Thai exports in August fell by the biggest percentage
since flooding in late 2011, data showed. 
    "It is possible that foreign equity inflows will slow in the
near-term due to a weaker Thai baht," broker KGI Securities
said.
    Other markets in Southeast Asia were mostly weaker as
political unrest in Hong Kong kept investors cautious. MSCI's
broadest index of Asia-Pacific shares outside Japan
 slid 1.06 percent. 
    In Manila, telecoms shares led losses, with Globe Telecoms
 down 4.9 percent, extending a 6.5 percent loss last
week due to foreign outflows.
        
For Asian Companies click;  
For South East Asia Hot Stock reports, click;
   

SOUTHEAST ASIAN STOCK MARKETS
 Change at 0539 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3291.25       3292.21       -0.03
 Kuala Lumpur       1842.83       1840.50       +0.13
 Bangkok            1597.01       1600.16       -0.20
 Jakarta            5133.14       5132.56       +0.01
 Manila             7256.41       7261.30       -0.07
 Ho Chi Minh         603.48        604.98       -0.25
 
 (Reporting by Viparat Jantraprap; Additional reporting by
Fransiska Nangoy in JAKARTA; Editing by Subhranshu Sahu)