SE Asia Stocks - Down on China, Greece woes; Malaysia AirAsia worst on MSCI

miércoles 8 de julio de 2015 01:57 GYT
 

BANGKOK, July 8 (Reuters) - Southeast Asian stock markets
fell on Wednesday as selloffs in Chinese shares and Greek debt
fears rippled across Asian exchanges, with shares of Malaysia's
AirAsia underperforming amid concerns over its
Indonesian affiliate.
    Singapore's key Straits Times Index was down 1.04
percent, giving up the previous day's gains. Shares of DBS Group
Holdings, among those actively traded, shed 1.1
percent after Tuesday's more-than-three-week closing high.
    "The uncertainty over Greece and whether it will be out of
the euro zone by next Monday will cast a pall on trading this
week," Singapore-based broker NRA Capital wrote in a report.
    Stocks in Indonesia and Malaysia extended
recent declines. Asian shares tumbled to a 1-1/2-year low on
Wednesday and the safe-haven yen rallied as Chinese stocks
struggled to pull out of a tailspin, shaking investors already
rattled by the Greek debt crisis. 
    Major Southeast Asian share indexes have lost much of their
upward momentum in the early months of the year. 
    Jakarta's composite index has fallen 6.6 percent so far in
2015, making it Asia's second worst performer. The Philippine
index, which hit an all-time high in April and was among
the top performers in Asia, saw a 2.3 percent year-to-date gain.
    KGI Securities in Bangkok said the SET index has largely
priced in Greek debt concerns.
    "The market is considered to have discounted Greece concerns
to a great extent," it said in a report. "Technically, we expect
the benchmark SET index to zigzag up."
    Among weak spots in the region, shares in AirAsia dropped 12
percent, the biggest percentage loser on MSCI's index of
Southeast Asia, hit by concerns it may miss a
deadline to raise equity in its Indonesian affiliate to avoid
the unit's operations being suspended. 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0533 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3306.25       3340.93       -1.04
 Kuala Lumpur       1698.61       1712.30       -0.80
 Bangkok            1475.82       1483.77       -0.54
 Jakarta            4889.96       4906.05       -0.33
 Manila             7396.37       7442.65       -0.62
 Ho Chi Minh         618.75        630.27       -1.83
 
 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)