SE Asia Stocks-Fall on global worries, outflows; Philippine worst in over a year

lunes 13 de octubre de 2014 06:28 GYT

BANGKOK, Oct 13 (Reuters) - The Philippine main index posted
its worst drop in more than a year and the Indonesian benchmark
touched the lowest closing level since July on Monday amid
selling by foreign investors and concern over the health of the
global economy.
    The Philippine Composite Index, which gauges
movements of 30 large caps, closed down 2.8 percent, its biggest
single-day loss since September 2013.
    Foreign investors sold shares worth a net 1.1 billion peso
($24.58 million), mainly in large caps, led by shares of Energy
Development Corp and Philippine Long Distance Telephone
, stock exchange data showed.
    "Fears of a global economic slowdown caused the markets to
go down," said Miguel Agarao, investment analyst at Wealth
Securities Inc in Manila.
    Agarao said since the Philippine share market was not as
liquid as its peers, selling by foreign funds had a bigger
    "This is not healthy. We expected a correction, but nothing
like this," he said. Foreigners dumped local stocks, sending the
benchmark below the key 7,000 support level, he said.
    It closed at 6,968.09, the lowest since Aug. 11.
    Jakarta's composite index ended down for a second
session, falling by 1 percent to 4,913.05, its lowest since July
4. Among losers, coal mining stock Adaro Energy 
plunged 7.3 percent as declining oil prices weighed on energy
related stocks across the region. 
    Indonesia reported a net foreign outflow worth 595 million
rupiah ($48.73 million) while Malaysia's net outflows
were at 84 million ringgit ($25.76 million), Thomson Reuters and
stock exchange data showed.

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 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          3202.15       3223.87       -0.67
 Kuala Lumpur       1797.20       1808.88       -0.65
 Bangkok            1542.35       1552.72       -0.67
 Jakarta            4913.05       4692.96       -1.01
 Manila             6968.09       7167.35       -2.78
 Ho Chi Minh         614.22        617.72       -0.57
 Change on year
 Market             Current       End 2013    Pct Move
 Singapore          3202.15       3167.43       +1.10
 Kuala Lumpur       1797.20       1866.96       -3.74
 Bangkok            1542.35       1298.71      +18.76
 Jakarta            4913.05       4274.18      +14.95
 Manila             6968.09       5889.83      +18.31
 Ho Chi Minh         614.22        504.63      +21.72
 (1 US dollar = 3.2605 Malaysian ringgit)
(1 US dollar = 44.7550 Philippine peso)
(1 US dollar = 12,215.0000 rupiah)

 (Reporting by Viparat Jantraprap in Bangkok and Neil Jerome
Morales in Manila; Editing by Biju Dwarakanath)