SE Asia Stocks-Mostly down; Thai SET index near two-year low
BANGKOK, Dec 14 (Reuters) - Most Southeast Asian stock markets fell in line with Asia on Monday, with the Thai index hitting a near two-year low, as investors cut risk holdings ahead of the U.S. Federal Reserve meeting later in the week. Asian stocks slipped after Wall Street sank amid plunging crude oil prices, keeping investors on edge ahead of an expected U.S. rate rise by the Federal Reserve. Thailand's SET index fell as much as 2.3 percent to 1,251.99, the lowest since January 2014. Broker Phillip Securities set a key support level for the SET at 1,250. "More downside could be in store for Thai stocks today amid bearish external factors and continued heavy foreign sell-off," the broker said. Shares of Thailand's biggest oil and gas firm, PTT Pcl , shed as much as 6.4 percent to their lowest in more than six years as investors offloaded energy shares across exchanges amid the weak global oil market. Among top losers in the region, Singapore's Keppel Corp was off 2 percent, Malaysia's Tenaga Nasional was down 1.2 percent and Indonesia's Perusahaan Gas Negara dropped 3.8 percent. Singapore's Straits Times Index was down 0.9 percent, while Kuala Lumpur's composite index eased 0.8 percent, both at their lowest since Oct. 2. "The increasing number of investors going on holiday would mean the market is likely to be more volatile on low volume," said broker NRA Capital of Singapore's stock market. The Jakarta composite index traded at the lowest since Oct. 5, while the Philippine composite index was at the lowest since Aug. 25. Bucking the trend, Vietnam eked out gains following a rebound on Friday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0348 GMT Market Current Prev Close Pct Move Singapore 2809.78 2834.63 -0.88 Kuala Lumpur 1626.65 1640.14 -0.82 Bangkok 1257.39 1280.92 -1.84 Jakarta 4353.34 4393.52 -0.91 Manila 6645.02 6735.01 -1.34 Ho Chi Minh 565.84 563.43 +0.43 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)
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