SE Asia Stocks - Most retreat on weak Chinese exports, strong U.S. jobs data
BANGKOK, Nov 9 (Reuters) - Southeast Asian stock markets were flat-to-weaker on Monday as a contraction in Chinese exports and worries over a likely Fed rate hike in December prompted investors to take quick profits, with Indonesia leading the pack amid a fall in the rupiah. Selling in large-caps led by domestic investors sent Jakarta's composite index, the region's best performer last week, down 1.6 percent to a near one-week low. Among those actively traded, shares of Astra International dropped 3.4 percent. The rupiah fell more than 1 percent early on Monday amid strength in the U.S. dollar as strong growth in the number of U.S. jobs last month bolstered the case for a December interest rate hike by the Fed. The Thai SET index traded 0.5 percent lower at a one-week low. "Foreign outflows from Asia should continue amid a much stronger caser for U.S. Fed lift-off in December," said Bangkok-based broker KGI Securities in a report. The Philippines fell for a fourth day to the lowest since Oct. 20 while Vietnam eased a tad, giving up Friday's gains. Stocks in Singapore and Malaysia were little changed ahead of a market holiday on Tuesday. China's trade figures disappointed analyst expectations by a wide margin in October, reinforcing views that the world's second-largest economy will have to do more to stimulate domestic demand given softness in overseas markets. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0445 GMT Market Current Prev Close Pct Move Singapore 3013.57 3010.47 +0.10 Kuala Lumpur 1682.39 1685.70 -0.20 Bangkok 1407.00 1414.54 -0.53 Jakarta 4495.21 4566.55 -1.56 Manila 7050.04 7118.20 -0.96 Ho Chi Minh 611.99 612.36 -0.06 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)
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