SE Asia Stocks-Malaysia at more than 2-year low as ringgit falls

lunes 10 de agosto de 2015 02:32 GYT
 

BANGKOK, Aug 10 (Reuters) - Most Southeast Asian stock
markets fell on Monday, led by a decline in Malaysia to a more
than two-year low, in line with the ringgit depreciation while
energy shares came under selling pressure amid weak global oil
prices.
    The Kuala Lumpur Composite Index dropped almost 2
percent to 1,652.76, the lowest since April 2013. Oil and gas
service company SapuraKencana Petroleum was down 4.7
percent, making it the biggest percentage loser.
    The ringgit stayed near a pre-peg 17-year low
after news Malaysia's foreign exchange reserves fell below $100
billion threshold. 
    Crude oil futures hit fresh multi-month lows after
disappointing data from China over the weekend showed exports
tumbled in the world's second-largest economy. 
    "Going forward, we expect the FBMKLCI index to continue its
downtrend due to softer ringgit, a dip in commodity price and
the growing signals of the impending hike in Federal Reserve
interest rates," broker Affin Hwang Capital said in a report.
    In Bangkok, broker KGI Securities said it anticipated the
first Fed hike in September, similar to traders in the market.
    "Given the current backdrop, foreign outflows should
continue, at least in the near-term. For this week, the market
will focus on second-quarter non-financial results which will
end this Friday," it said in a report.
    The Thai SET index was down 0.4 percent, while the
Jakarta Composite Index shed 1 percent, both heading for
their third session of falls. Shares of Indorama Ventures Pcl
 and palm planter Astra Agro Lestari were
among top losers.
    The Philippine index was up 0.3 percent after two
sessions of falls, while Vietnam rose 0.98 percent, on
track for its second straight gain, with most blue chips higher.
 
    Singapore's stock market remained closed on Monday
for a public holiday, and will resume trading on Tuesday.
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0602 GMT
 Market             Current     Prev Close    Pct Move
 Kuala Lumpur       1652.76       1682.65       -1.78
 Bangkok            1423.16       1428.79       -0.39
 Jakarta            4723.19       4770.30       -0.99
 Manila             7556.34       7532.52       +0.32
 Ho Chi Minh         609.70        603.76       +0.98
 
 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)