SE Asia Stocks -Thai index down on energy shares; Indonesia falls before rate decision
BANGKOK, Dec 11 (Reuters) - Thai shares suffered the worst drop in almost a year on Thursday as investors offloaded shares of large cap energy firms amid a tumble in global oil prices, while other regional markets retreated after rebounding in the previous session. The SET index ended down 2.1 percent, its biggest single-day fall since January. Shares of PTT and PTT Exploration and Production, making about 10 percent of the index, slipped 3.5 percent and 5.7 percent, respectively. The heavy losses came as retail investors sold shares held in margin accounts while there was also active short-selling among foreign and institutional investors, said an equities trader in Bangkok. "The direction of the crude oil market remains uncertain and the selloff today was a bit of a capitulation. Tomorrow, we can expect to see a technical rebound, given the selling today is quite overdone," the trader said. The Thai bourse said foreign investors sold shares worth a net 3.4 billion baht ($103.60 million). Oil edged higher on Thursday towards $65 a barrel, helped by a weaker U.S. dollar, although prices remained close to a five-year low on signs that already ample supply will be even more plentiful in 2015. Kuala Lumpur's composite index slid 1.2 percent after Wednesday's 1.6 percent rise, led down by shares of Petronas Dagangan. Singapore's Straits Times Index reversed its previous day's gain, with shares of Keppel Corp among the top losers. Indonesian shares ended a tad lower amid weakness in interest rate-sensitive stocks such as Bank Rakyat Indonesia and Bank Mandiri ahead of the central bank's interest rate decision, which came after the closing bell. Indonesia's central bank kept its policy rate at 7.75 percent as expected on Thursday, saying the level is consistent with efforts to keep inflation under control after a fuel price hike. 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 3318.70 3325.81 -0.21 Kuala Lumpur 1744.57 1765.52 -1.19 Bangkok 1526.81 1559.56 -2.10 Jakarta 5152.69 5165.41 -0.25 Manila 7072.10 7175.08 -1.44 Ho Chi Minh 550.11 557.19 -1.27 Change on year Market Current End 2013 Pct Move Singapore 3318.70 3167.43 +4.78 Kuala Lumpur 1744.57 1866.96 -6.56 Bangkok 1526.81 1298.71 +17.56 Jakarta 5152.69 4274.18 +20.55 Manila 7072.10 5889.83 +20.07 Ho Chi Minh 550.11 504.63 +9.01 ($1 = 32.8200 baht) (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)
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