SE Asia Stocks - Weak amid outflows, Singapore worst drop in almost two weeks
BANGKOK, Jan 16 (Reuters) - Singapore shares suffered the worst drop in almost two weeks on Friday amid a rise in the Singapore dollar and volatility in the foreign exchange market while late bargain hunting helped other markets in Southeast Asia trim some early losses. The benchmark Straits Times Index fell 1.14 percent to 3,300.68, the lowest close since Jan. 7, ending the week 1.1 percent lower. The Singapore dollar edged higher in a reflection of what analysts said were traders being forced to shift their positions and strategies, after Switzerland's unexpected move to abandon its cap on the franc jolted financial markets. Shares of DBS Group Holdings Ltd, United Overseas Bank Ltd and Noble Group Ltd were among actively traded in terms of turnover. Analysts said the Swiss Bank's move appeared to foretell that next week the European Central Bank's meeting could announce some big quantitative easing measures, broker NRA Capital said in a report. Fund flows were broadly weak, with Malaysia reporting a net foreign selling of 371 million ringgit ($104 million), with Thailand's a net 1.7 billion baht ($52 million) outflow and Indonesia's 333.4 billion rupiah ($27 million) outflow, stock exchange and Thomson Reuters data showed. Bangkok's SET index finished down 0.4 percent at 1,517.74, slightly coming off a day low of 1,514.83. It slipped 0.8 percent on the week, after a 2.1 percent gain a week earlier. Thai energy firm PTT shares gained 0.9 percent while Malaysia's oil and gas firm Sapurakencana Petroleum jumped 2.5 percent after Brent crude oil futures rose above $49 a barrel on Friday as the IEA said the tide of recent price slumps may turn. The region had a mixed performance on the week, with Malaysia and Vietnam posting a weekly gain of 0.6 percent and 0.9 percent, respectively, while Indonesia was down 1.3 percent. 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 3300.68 3338.84 -1.14 Kuala Lumpur 1743.57 1745.00 -0.08 Bangkok 1517.74 1523.38 -0.37 Jakarta 5148.38 5188.71 -0.78 Ho Chi Minh 574.81 577.74 -0.51 Change on year Market Current End 2014 Pct Move Singapore 3300.68 3365.15 -1.92 Kuala Lumpur 1743.57 1761.25 -1.00 Bangkok 1517.74 1497.67 +1.34 Jakarta 5148.38 5226.95 -1.50 Manila -- 7230.57 +3.60 Ho Chi Minh 574.81 545.63 +5.35 ($1 = 3.5570 ringgit) ($1 = 32.6200 baht) ($1 = 12,585.0000 rupiah) ($1 = 32.6100 baht) (Reporting by Viparat Jantraprap; Editing by Anand Basu)
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