SE Asia Stocks-Singapore, Malaysia fall to over two-week lows

martes 6 de enero de 2015 05:18 GYT

BANGKOK, Jan 6 (Reuters) - Southeast Asian stock markets
mostly fell on Tuesday, with Singapore and Malaysia extending
losses to more than two-week lows as investors cut holdings in
risky assets amid weak global sentiment and oil company shares
retreated in line with softening oil prices.
    Singapore's index was down 1.4 percent after a
slide on Monday, to 3,281.08, while Malaysia's benchmark 
eased 1 percent, heading for its fifth straight loss, both
hovering around the lowest level since Dec. 19.
    Shares of Keppel Corporation and Sembcorp Marine
 each lost about 4 percent on the Singapore bourse. In
Kuala Lumpur, shares of UMW Holdings and Petronas
Chemicals Group led among losers.
    Brokers forecast a further decline in the near term.
    Affin Hwang Capital in Kuala Lumpur said in a report it
expected the bearish market sentiment to drag stock prices lower
on the Bursa Malaysia index.
    KGI Securities in Bangkok said energy shares would face
selling pressure with oil extending losses on Tuesday to touch
fresh 5-1/2-year lows, and expect investors to track the
European Central Bank meeting later in the month for cues.
    "Global market sentiment continued to worsen due to
uncertainty about Greece's political outlook, which may result
in the country exiting the euro zone," it said in a report.
    "In our view, the next major event that may revive market
sentiment will be the ECB meeting on January 22 when the central
bank may announce a full QE program," it said.
    The Thai SET index traded down 0.9 percent, with top
energy shares such as PTT and PTT Exploration and
Production sliding further from the previous session. Jakarta's
composite index was down almost 1 percent.
    Stocks in the Philippines recovered from earlier
losses and closed in positive territory, with shares of Alliance
Global among outperformers due to buying by foreign
investors, stock exchange data showed.
    Vietnam gained almost 1 percent as buying in banking
and consumer goods equities reversed the market position after
some early offloads. 
    Asian shares slumped on Tuesday partly due
to increasing speculation that Greece might be kicked out of the
euro zone if a left-wing party that has vowed to end austerity
measures and erase a big portion of its debt wins in the Jan. 25
elections, as widely expected. 
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 Change at 0852 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3281.08       3328.28       -1.42
 Kuala Lumpur       1716.58       1736.62       -1.15
 Bangkok            1469.70       1483.25       -0.91
 Jakarta            5180.46       5219.99       -0.76
 Manila             7277.74       7276.63       +0.02
 Ho Chi Minh         549.66        544.45       +0.96
 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)