SE Asia Stocks -Weak on U.S. rate outlook; Indonesia at 5-week lows

lunes 8 de junio de 2015 02:35 GYT

BANGKOK, June 8 (Reuters) - Southeast Asian stock markets
fell on Monday, in line with regional currencies, amid concerns
about sooner-than-expected U.S. interest rate hikes after upbeat
jobs data, while further losses in the Indonesian index made it
Asia's worst performer this year.
    The Jakarta composite index (JCI) shed 1 percent to
5,044.73, the lowest since April 30. Foreign investors led
selling in select large caps such as Bank Mandiri and
Unilever Indonesia.
    The U.S. rate hike expectations sent the Indonesian rupiah
 to a fresh 17-year trough on Monday. Other currencies
also fell, including Malaysian ringgit which hit a
nine-year low. 
    The benchmark JCI had fallen 5.7 percent from the high of
5,347.13 hit on May 26, reflecting concerns about the impact of
rupiah depreciation on corporate earnings. It was Asia's worst
performing index, with a year-to-date loss of 3.5 percent.
    The Kuala Lumpur composite index slipped at one
point to the lowest since Jan. 13 due to weakness in the ringgit
    Energy shares topped among losers in Malaysia with Tenaga
Nasional falling 1.3 percent and Petronas Gas
 0.8 percent as a fall in global oil prices dented
sentiment in the region.
    Thailand's PTT was down 0.9 percent,
Singapore-listed Australia-based oil production company Linc
Energy fell 3.9 percent and Philippine Petron Corp
 was 1.5 percent lower.  
    Investors in the Thai stock market awaited the central
bank's interest rate decision on Wednesday, with a Reuters poll
showing the Bank of Thailand is expected to leave its policy
interest rate steady after two surprise cuts in a row.
    The SET index was down 0.2 percent at 1,504.64 at
midday. Strategists at broker Maybank Kim Eng Securities said
they were cautious in the near term.
    "Although the SET went above the 1,500 level, the light
trading volume means only a short term technical rebound as
economic fundamentals remain fragile," they wrote in a report.
    "Investors are advised to wait for the BoT's view of the
economic growth outlook on June 10," they said.
    An index of Asian shares extended losses on Monday in part
after Chinese imports declined more than expected. 
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 Change at 0609 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3327.92       3333.67       -0.17
 Kuala Lumpur       1738.58       1745.33       -0.39
 Bangkok            1504.64       1507.37       -0.18
 Jakarta            5044.73       5100.57       -1.09
 Manila             7476.30       7526.70       -0.67
 Ho Chi Minh         584.24        578.07       +1.07
 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)