SE Asia Stocks-Lower as oil price drop hits energy shares

martes 8 de diciembre de 2015 06:55 GYT

JAKARTA, Dec 8 (Reuters) - Most Southeast Asian stock
markets eased on Tuesday as falling oil prices hit energy
stocks, with Thailand's stock index posting its biggest
single-day drop since August.
    Thailand's SET index posted the steepest fall in the
region with a 2 percent drop, led by oil firm PTT Pcl 
which fell 4.4 percent to its lowest close since Oct. 1.
Thailand's overall energy sector fell 3.3 percent.
    Global benchmark Brent crude futures dropped 5.4
percent to $40.66 per barrel on Monday, after the Organization
of the Petroleum Exporting Countries' (OPEC) policy meeting on
Friday ended without an agreement to lower production. 
    "This will put negative pressure on oil-linked stocks, with
short-term pain for downstream operators ...and long-term pain
for upstream operators with respect to the bearish oil price
trend," Patcharin Karsemarnuntana, an analyst with KT ZMICO
Securities, said in a note on Tuesday.
    Lower oil prices also hit energy stocks in Indonesia,
leading to a 1.3 percent decline in the benchmark index.
Oil and gas firm PT Medco Energi Internasional Tbk 
plunged 9.6 percent, while coal miner PT Bukit Asam 
dropped 5.8 percent.
    The Indonesian market will be closed on Wednesday for a
public holiday. 
    Bucking the regional trend, the Vietnam index gained
1.9 percent.

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 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          2876.03       2900.92       -0.86
 Kuala Lumpur       1669.24       1672.00       -0.17
 Bangkok            1306.98       1333.57       -1.99
 Jakarta            4464.18       4521.39       -1.27
 Manila             6838.42       6911.86       -1.06
 Ho Chi Minh         574.15        563.62       +1.87
 Change on year
 Market             Current       End 2014    Pct Move
 Singapore          2876.03       3365.15       -14.5
 Kuala Lumpur       1669.24       1761.25       -5.22
 Bangkok            1306.98       1497.67       -12.7
 Jakarta            4464.18       5226.95       -14.6
 Manila             6838.42       7230.57       -5.42
 Ho Chi Minh         574.15        545.63       +5.23

 (Reporting by Fransiska Nangoy; Editing by Sunil Nair)