SE Asia Stocks-Malaysia, Singapore fall on weak oil prices
BANGKOK, Dec 1 (Reuters) - Malaysia's key stock index marked the worst drop in almost 23 months and Singapore's benchmark posted the biggest fall since mid-October on Monday as oil and gas stocks tumbled amid a fall in global oil prices to a five-year low. Kuala Lumpur's composite index, which measures moves of 30 large-cap stocks, closed down 2.3 percent, its biggest single day loss since January 21, 2013. Shares of Sapurakencana Petroleum plunged 10 percent, the worst performer. A capital expenditure cut plan by Malaysia's state oil firm Petroliam Nasional (Petronas) worried investors about earnings outlook of oil and gas services firms that rely on Petronas's contracts, analysts said. In Singapore, late selling sent the Straits Times Index 1.3 percent lower at a two-week closing low of 3,305.64. Oil rig builder Sembcorp Marine slipped 5.8 percent and Keppel Corporation was down 4.9 percent. In Bangkok, shares of the country's top energy firm PTT was down 4.9 percent, the worst since October 2011, sending the SET index into negative territory. Indonesia's coal miner Bumi Resources fell 5.8 percent, trimming gains of the Jakarta composite index. 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 3305.64 3350.50 -1.34 Kuala Lumpur 1778.27 1820.89 -2.34 Bangkok 1593.82 1593.91 -0.01 Jakarta 5164.29 5149.88 +0.28 Manila 7331.73 7294.38 +0.51 Ho Chi Minh 568.01 566.58 +0.25 Change on year Market Current End 2013 Pct Move Singapore 3305.64 3167.43 +4.36 Kuala Lumpur 1778.27 1866.96 -4.75 Bangkok 1593.82 1298.71 +22.72 Jakarta 5164.29 4274.18 +20.83 Manila 7331.73 5889.83 +24.48 Ho Chi Minh 568.01 504.63 +12.56 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)
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