SE Asia Stocks - Most fall on oil price jitters, global economic woes

viernes 10 de octubre de 2014 00:16 GYT
 

BANGKOK, Oct 10 (Reuters) - Most Southeast Asian stock
markets retreated on Friday, with Malaysian shares poised for
their worst week in more than a year and Singapore extending
loss to a fourth week as energy-related stocks took a beating on
declining oil prices.
    Brent crude tumbled by more than a dollar to below $89 a
barrel on Friday to trade near its weakest since 2010 as rising
supply and a weakening global economic outlook stretched a
months-long slump in oil prices. 
    Offshore and marine stocks such as Malaysia's UMW Oil & Gas
, Singapore's Keppel Corp and Ezion Holdings
 were among those hit by jitters over weak oil prices.
    Malaysia's main index was down almost 1 percent,
reversing from a rise on Thursday and heading for a weekly loss
of 1.5 percent, its worst since the week ended Aug. 23, 2013.
    Underperformers in Malaysia included CIMB Group Holdings Bhd
 which dropped 3.4 percent after it agreed with two
smaller domestic lenders to create the country's biggest banking
group. 
    Investors also awaited details of the 2015 budget to be
presented on Friday. 
    Singapore's Straits Times Index was down 1 percent,
on track for a weekly fall of 0.8 percent, taking its decline
since the week ended Sept. 19 to almost 4 percent.
    "It is a given the regional markets will fall back again
today, giving up most or all of yesterday's gains, as investors
digest the swings on Wall Street and the possibility this is
pointing to a bigger correction to come," Singapore-based broker
NRA Capital said in a report 
    "America's fledging economic recovery will be dealt a blow
if Europe re-enters into a recession and this is apparently a
likely scenario at this point," it said.
    Asian shares fell on Friday after weak German export data
raised fears that a recession at the heart of Europe could slow
down the global economy. 
    Southeast Asian stock markets recorded a mixed performance
for the week.
    Thai stocks are set for a 1.6 percent fall on the
week, its second in a row, with the Philippines sliding
1.4 percent, a third straight week of falls. Indonesia 
is set to eke out a modest 0.2 weekly gain and Vietnam a
2.4 percent gain on the week.
    
For Asian Companies click;  
For South East Asia Hot Stock reports, click;
   

SOUTHEAST ASIAN STOCK MARKETS
 Change at 0352 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3227.97       3259.25       -0.96
 Kuala Lumpur       1813.00       1829.73       -0.91
 Bangkok            1552.19       1560.61       -0.54
 Jakarta            4964.19       4993.88       -0.59
 Manila             7145.50       7201.89       -0.78
 Ho Chi Minh         627.19        624.34       +0.46
 
 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)