SE Asia Stocks-Most fall on fund outflow, yuan move
BANGKOK, Aug 11 (Reuters) - Southeast Asian stocks fell on Tuesday amid fund outflows and weak regional currencies after China devalued the yuan, with Indonesia marking its worst drop in more than three months and Singapore closing at its lowest in nearly 18 months. The Jakarta composite index was down 2.7 percent, the biggest single-day decline since April. Selling by foreign investors hit shares of Bank Mandiri and Bank Negara Indonesia, among top large-cap losers. The rupiah fell to a low last seen during the Asian financial crisis 17 years ago while other Southeast Asian currencies hit fresh multi-year lows after China devalued the yuan to support its economy. Singapore's Straits Times Index was down 1.4 percent, its lowest close since March 2014. Banking shares were among top losers, led by United Overseas Bank Ltd which dropped 3.2 percent. The fall came amid talks of heightened selling by foreign funds, broker NRA Capital said in a report. Foreign investors sold shares worth a net 389 million ringgit ($98.23 million) in Malaysia, 585 billion rupiah ($43.03 million) in Indonesia and 401.5 million pesos ($8.73 million) in the Philippines, stock exchange and Thomson Reuters data showed. Stocks in Thailand were down almost 1 percent after net outflows worth 1.2 billion baht ($33.94 million), stock exchange data showed. The Thai market is closed on Wednesday for a public holiday. Vietnam's key index retreated 0.24 percent, coming off a more than one-week high in early trading. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 3153.06 3196.66 -1.36 Kuala Lumpur 1636.71 1654.37 -1.07 Bangkok 1408.32 1420.13 -0.83 Jakarta 4622.59 4748.95 -2.66 Manila 7570.45 7534.35 +0.48 Ho Chi Minh 613.05 614.53 -0.24 Change on year Market Current End 2014 Pct Move Singapore 3153.06 3365.15 -6.30 Kuala Lumpur 1636.71 1761.25 -7.07 Bangkok 1408.32 1497.67 -5.97 Jakarta 4622.59 5226.95 -11.56 Manila 7570.45 7230.57 +4.70 Ho Chi Minh 613.05 545.63 +12.36 ($1 = 3.9600 ringgit) ($1 = 35.3600 baht) ($1 = 13,595.0000 rupiah) ($1 = 45.9760 Philippine pesos) (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)
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