SE Asia Stocks-Indonesia hits 13-mth closing low on weak data
BANGKOK, June 15 (Reuters) - Indonesia's key stock index hit a 13-month closing low on Monday on investor concerns over weak demand after imports and motorcycle sales fell in May, while worries about failed Greek debt talks dented regional sentiment. The Jakarta composite index dropped 2 percent to 4,837.79, the lowest close since May 2014. Shares of Bank Mandiri were down 4.3 percent and Bank Negara Indonesia shed 4 percent due to selling led by foreign investors. The fall took the index's year-to-date loss to 7.5 percent in terms of local currency, Asia's worst performer. Macroeconomic data showed that the country's wide current account was most likely narrowing, but Monday also produced evidence that consumer demand was much weaker than expected ahead of the biggest shopping season. Before the data was released, the market had been gripped by the likely impact of a depreciation in the rupiah partly due to weaker corporate earnings, brokers said. "The next focus will be second quarter earnings at the end of July and the Bank Indonesia's rate policy. I don't expect BI to cut interest rates this month. BI may increase it after Idul Fitri," said John Teja, director of Jakarta-based Ciptadana Securities. Indonesia's Idul Fitri holidays, or the celebration that comes at the end of the Muslim month of fasting, are around mid-July. Singapore's Straits Times Index ended down 0.9 percent at a near one-week closing low. Data showed the city-state's employment shrank for the first time in nearly six years in the January-March quarter. Bangkok's SET index closed down 0.4 percent, recouping some losses in early trade. The Stock Exchange of Thailand expected the Thai stock market's investment sentiment to improve in the second-half, helped by a recovery in the domestic economy on government spending on major projects and a pick-up in exports. "More government investment in the second-half should make the stock market more attractive," Chairman Sathit Limpongpan told reporters. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 3323.13 3353.85 -0.92 Kuala Lumpur 1722.16 1734.37 -0.70 Bangkok 1501.89 1508.23 -0.42 Jakarta 4837.79 4935.82 -1.99 Manila 7456.16 7503.72 -0.63 Ho Chi Minh 586.48 582.73 +0.64 Change on year Market Current End 2014 Pct Move Singapore 3323.13 3365.15 -1.25 Kuala Lumpur 1722.16 1761.25 -2.22 Bangkok 1501.89 1497.67 +0.28 Jakarta 4837.79 5226.95 -7.45 Manila 7456.16 7230.57 +3.12 Ho Chi Minh 586.48 545.63 +7.49 (Reporting by Viparat Jantraprap; Additional reporting by Kitiphong Thaichareon and Fransiska Nangoy in Jakarta; Editing by Biju Dwarakanath)
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