SE Asia Stocks-Thailand leads losses on airline woes
BANGKOK, Dec 2 (Reuters) - Most Southeast Asian stock markets fell on Wednesday, with the Thai benchmark hitting a more than three-month closing low amid selloffs in airline shares while investors in the region stayed on the sidelines a day ahead of the European Central Bank's meeting. The Thai SET index ended down 1.3 percent at 1,339.45, the lowest close since Aug. 26. Shares of airline operators tumbled, led by a 7.5 percent drop in national carrier Thai Airways International Pcl , after the U.S. Federal Aviation Administration (FAA) downgraded Thailand's safety ratings. Stocks in Malaysia, Indonesia and the Philippines inched lower, in line with Asia as downbeat U.S. manufacturing data raised questions about how aggressive the Federal Reserve would be when hiking interest rates. Turnover was below the 30-day average across exchanges as investors waited to see whether the ECB would add further to economic stimulus at a meeting on Thursday. Fund flows were broadly weak, with the Philippines posting a net foreign selling of 786 million pesos ($16.66 million), Malaysia's net foreign selling of 61 million ringgit ($14.42 million) and Indonesia's 362 billion rupiah ($26.24 million), stock exchange and Thomson Reuters data showed. Markets could continue to be range-bound in the near term amid uncertainties about a Fed rate hike in December, according to brokers. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 2883.64 2870.26 +0.47 Kuala Lumpur 1676.77 1682.37 -0.33 Bangkok 1339.45 1357.01 -1.29 Jakarta 4545.86 4557.67 -0.26 Manila 7047.08 7060.60 -0.19 Ho Chi Minh 574.42 570.41 +0.70 Change on year Market Current End 2014 Pct Move Singapore 2883.64 3365.15 -14.31 Kuala Lumpur 1676.77 1761.25 -4.80 Bangkok 1339.45 1497.67 -10.56 Jakarta 4545.86 5226.95 -13.03 Manila 7047.08 7230.57 -2.54 Ho Chi Minh 574.42 545.63 +5.28 ($1 = 47.1900 Philippine pesos) ($1 = 13,795.0000 rupiah) ($1 = 4.2315 ringgit) (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)
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