SE Asia Stocks - Fall on week; Malaysia declines on ringgit
BANGKOK, Aug 14 (Reuters) - Malaysia's main stock index posted the worst weekly drop in almost seven years on Friday amid a fall in the ringgit and foreign outflows but oversold stocks in Singapore, Thailand and Indonesia rebounded after late buying. The ringgit hit a fresh pre-peg 17-year low after a fall in oil prices increased concerns over Malaysia's exports. The Malaysian bourse posted outflows through the week, with net foreign selling on Friday worth 404 million ringgit ($99 million). The Kuala Lumpur composite index closed down 1.5 percent on the day and 5 percent lower on the week, the biggest weekly loss since October 2008. Singapore's index gained for a second day, trimming its weekly loss to 2.6 percent. The Thai index ended five days of declines, slipping 1 percent on the week. Indonesia erased early losses, with a 3.9 percent fall on the week. Volatility in regional currencies after China's yuan devaluation prompted investors to cash in on recent gainers, with Philippines down for a third day and posting a weekly loss of 1.7 percent. Vietnam, the region's strongest performer this year, marked a fourth straight fall, with a decline of 2.4 percent on the week, partially dragged down by the State Bank of Vietnam doubling its dollar/dong trading band to counter the yuan's fall on Wednesday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 3114.25 3091.78 +0.73 Kuala Lumpur 1596.82 1621.62 -1.53 Bangkok 1413.92 1404.15 +0.70 Jakarta 4585.39 4584.25 +0.02 Manila 7408.44 7439.80 -0.42 Ho Chi Minh 589.03 594.26 -0.88 Change on year Market Current End 2014 Pct Move Singapore 3114.25 3365.15 -7.46 Kuala Lumpur 1596.82 1761.25 -9.34 Bangkok 1413.92 1497.67 -5.59 Jakarta 4585.39 5226.95 -12.27 Manila 7408.44 7230.57 +2.46 Ho Chi Minh 589.03 545.63 +7.95 ($1 = 4.0750 ringgit) (Reporting by Viparat Jantraprap; Editing by Prateek Chatterjee)
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