SE Asia Stocks -Fall after Paris attacks; Philippine shares near 3-mth low
BANGKOK, Nov 16 (Reuters) - Southeast Asian stock markets fell on Monday as weakness in global markets after Friday's attacks in Paris prompted early sell-offs across exchanges, sending the Philippine index to a near three-month low and the Indonesian benchmark to the lowest in more than a month. The Philippine composite index dropped 2.5 percent to the lowest since Aug. 25, with the 30 stocks measured by the gauge all down. Among the top losers, Energy Development Corp and SM Prime Holdings Inc both shed about five percent. The Jakarta composite index declined about 1 percent to the lowest since Oct. 6, led lower by shares of Astra International and Bank Mandiri amid selling led by foreign investors, Thomson Reuters data showed. In Bangkok, the key SET index eased 0.5 percent, recovering some early losses. Domestic funds appeared to be collecting battered stocks, brokers said. "External pressure may lead Thai stocks to trade on the downside today," said broker Phillip Securities, forecasting support for the SET index at 1,360. "But we believe any market dips could possibly trigger long-term equity fund and retirement mutual fund purchases to take advantage of personal income tax deductions by year end," it said. The Paris attacks also put downward pressure on shares related to the tourism sector which expected to see potential falls in foreign tourists, brokers said. Shares of hotelier Central Plaza Hotel Pcl were down 1.2 percent and airline firm Thai Airways International down 0.5 percent. Data released early on Monday showed Thailand's economy expanded 2.9 percent in the third quarter from a year earlier, better than expected, with tourism revenues among key drivers. Indexes in Singapore and Malaysia both slipped to lows hit in early October while Vietnam pulled lower after two successive days of gains. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0434 GMT Market Current Prev Close Pct Move Singapore 2897.18 2925.68 -0.97 Kuala Lumpur 1657.50 1658.91 -0.08 Bangkok 1376.16 1382.46 -0.46 Jakarta 4430.50 4472.84 -0.95 Manila 6726.11 6897.77 -2.49 Ho Chi Minh 606.89 611.27 -0.72 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)
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