SE Asia Stocks -Indonesia hits over 2-month low amid foreign selling

jueves 2 de octubre de 2014 01:46 GYT

BANGKOK, Oct 2 (Reuters) - Indonesian shares hit their
lowest in more than two months on Thursday amid foreign selling
of large caps and concerns about the ability of the incoming
government to enforce reforms, while Thai stocks fell after data
showed weak consumer confidence.
    Most other Southeast Asian stock markets edged down, in line
with Asian peers after a slew of weak global manufacturing data.
    Indonesia underperformed the region with a loss of
1.9 percent at 5,041.89, falling at one point to 5,039.32, the
lowest since July 22.
    Shares of Astra International dropped 4.3 percent
and Telkom Indonesia was down 2.3 percent as foreign
investors were net sellers of the stocks, Thomson Reuters data
    Sentiment was hit after the ruling coalition, led by
president-elect Joko Widodo's party, lost the parliament head
election to the opposition, led by losing presidential candidate
Prabowo Subianto's party, brokers said. 
    "Prabowo's coalition has won the package for parliament
speaker. This will bring plenty of challenges to pass through
policies and reforms," said John Teja, director of broker
Ciptadana Securities.
    In Bangkok, the main SET index was down 0.6 percent.
    Consumer confidence in Thailand dropped in September for the
first time since the military coup in May, a university survey
showed, adding to evidence that authorities haven't yet been
able to get an economic recovery on track. 
    Thai shares eked out a modest gain in the previous session
after the government unveiled stimulus measures to revive
domestic economy. 
    Large caps traded mixed on Thursday. Shares of Kasikornbank
 were down 0.9 percent after a big lot deal at a
lower-than-market price, while PTT rallied at one point
to its highest since May 2011 after domestic gas price hikes.
    Investors awaited the outcome of the European Central Bank's
(ECB) policy meeting on Thursday, brokers said. 
    "External factors may weigh on market sentiment but we
believe the downside appears limited as domestic stimulus
measures from the new government and speculation on ECB should
lend support," said strategists with broker Phillip Securities
in a report.
    The Philippine main index slid to the lowest since
Sept. 16, led by the country's biggest firm by market value,
Philippine Long Distance Telephone. Singapore's Straits
Times Index fell to its lowest since July 1, with
property shares such as CapitaLand among losers.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was down 0.1 percent, with the downturn
potentially limited by market closures in both China and Hong
Kong for public holidays. 
    Dwindling demand hurt factory activity across much of Asia
and Europe in September, and mixed manufacturing indicators in
the Americas on Wednesday raised the chances of slower global
economic growth in the months ahead. 

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 Change at 0445 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3243.71       3264.09       -0.62
 Kuala Lumpur       1842.61       1845.32       -0.15
 Bangkok            1578.54       1587.35       -0.56
 Jakarta            5041.89       5140.91       -1.93
 Manila             7194.44       7268.06       -1.01
 Ho Chi Minh         613.47        609.27       +0.69
 (Reporting by Viparat Jantraprap; Additional reporting by
Fransiska Nangoy in JAKARTA; Editing by Subhranshu Sahu)