SE Asia Stocks-Fall on jitters over China, weak oil prices

lunes 11 de enero de 2016 01:28 GYT
 

BANGKOK, Jan 11 (Reuters) - Southeast Asian stock markets
fell in line with Asia on Monday, with the Philippine index
sliding almost 4 percent and the Singapore benchmark off more
than 2 percent, as jitters over China and a drop in global oil
prices fuelled risk-averse selling.
    The Philippine composite index was 3.6 percent lower
at 6,337.83, with all 30 large-cap stocks measured by the index
down, after falling as much as 3.8 percent earlier in the day. 
    The index is expected to continue its downturn to test 6,300
and 6,000 levels, reflecting external and domestic risks, said
Nisha Alicer, head of analysts at DA Market Securities Inc in
Manila.
    "We carried over concerns of 2015, if not worsening of those
concerns. We are looking at more than one U.S. Fed hike and
China continues to be a mystery," she said.
    "On the local front, although we think that the Philippines
is still very resilient, we are still dealing with some
uncertainties, particularly election outcome and slowing
growth."
    Singapore's key Straits Times Index was down 1.9
percent. Shares of rig builders were among top losers amid the
weak oil market. Sembcorp Marine Ltd slumped 4.6
percent.
    A fall in China stocks  due to concerns
over deflationary risks, added downward pressures to the
regional stock markets, brokers said. 
    In Bangkok, the SET index traded down 1 percent,
with shares of top oil and gas firm PTT almost 3
percent lower.
    "In our view, the market will fluctuate for a while, as
Chinese jitters remain, and offset the positive from the low
valuations of the SET," said broker KGI Securities in a report.
    Indonesia's stock index hit a three-week low, led by
Bank Rakyat Indonesia and Telkom Indonesia 
due to foreign selling. Malaysia traded near its
three-week low and Vietnam was slightly down after early
gains.
    Asian shares as measured by MSCI's broadest index of
Asia-Pacific shares outside Japan lost 0.6
percent. 

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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0459 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2697.70       2751.23       -1.96
 Kuala Lumpur       1645.13       1657.61       -0.75
 Bangkok            1233.68       1244.18       -0.86
 Jakarta            4470.19       4546.29       -1.67
 Manila             6337.83       6575.43       -3.61
 Ho Chi Minh         559.69        560.05       -0.06
 
 (Reporting by Viparat Jantraprap in Bangkok and Neil Jerome
Morales in Manila; Editing by Subhranshu Sahu)