SE Asia Stocks-Fall on weak globals, tepid reporting season
BANGKOK, Nov 10 (Reuters) - Southeast Asian stock markets fell on Tuesday as worries over a global slowdown and expectations of a U.S. Fed rate hike in December lingered, sending key indexes in Thailand and Indonesia to their lowest in more than a week. Bangkok's SET index was down 0.3 percent at 1,397.84, its lowest level since Oct. 30, while Jakarta composite index was 0.1 percent lower at 4,495.54, slightly above the intraday low hit on Nov. 2. The region is expected to follow the weak direction of external stock markets just as quarterly results of Southeast Asian firms so far had been mostly unfavourable. "Global macros, unfortunately, favor the risk-off phase again," Broker KGI Securities said in a report on the Thai stock market. "Energy stocks could underperform the SET in the near term given softer oil prices in recent days and also weak third-quarter earnings results from most subsidiaries of PTT," KGI said. Shares of PTT Global Chemical shed 0.5 percent, extending Monday's slide after a drop in quarterly net profit. The Philippine main index extended its losses for a fifth day to the lowest level since Oct. 15. Vietnam traded down for a third day at a one-week low. Asian shares slipped to one-month lows as the spectre of higher borrowing costs in the United States and slower global economic growth prompted investors to trim their exposure to riskier assets. Stock markets in Singapore and Malaysia were both closed on Tuesday for a public holiday, reopening on Wednesday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0343 GMT Market Current Prev Close Pct Move Bangkok 1397.84 1402.57 -0.34 Jakarta 4495.54 4499.51 -0.09 Manila 7018.33 7070.19 -0.73 Ho Chi Minh 605.10 610.66 -0.91 (Reporting by Viparat Jantraprap; Editing by Gopakumar Warrier)
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