SE Asia Stocks-Fall on oil woes; Philippines sees worst drop in almost 2 weeks
BANGKOK, Jan 21 (Reuters) - Southeast Asian stocks fell on Thursday as a drop in oil prices towards 12-year lows unnerved investors, taking losses in the Philippines to the worst in almost two weeks while Malaysia hit a more-than-four-month low ahead of a rate decision. The Philippine main index finished down 2.8 percent, the biggest single-day decline since Jan. 11. The index slipped into the oversold zone, with the 14-day Relative Strength Index below 30, similar to its peers in Singapore and Vietnam. Stocks in Malaysia fell 1 percent to the lowest close since Sept. 8. The central bank, after market hours, said it kept the benchmark interest rate unchanged at 3.25 percent, as expected. Among losers in the region, shares of Keppel Corp eased 0.6 percent ahead of results. After market close it reported a drop in revenue and net profit in the fourth quarter due to weak oil prices. The region posted outflows on the day, with Malaysia seeing an eleventh day of foreign selling worth a net 264 million ringgit ($60.37 million), stock exchange data showed. Foreign selling in the Philippines, Thailand and Indonesia was relatively modest, worth a net 962 million peso ($20.10 million), 506.27 million baht ($13.96 million) and 110 billion rupiah ($7.91 million) respectively. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous Close Pct Move Singapore 2532.7 2559.77 -1.06 Bangkok 1245.61 1248.98 -0.27 Manila 6084.28 6259.61 -2.80 Jakarta 4414.126 4427.985 -0.31 Kuala Lumpur 1600.92 1618.83 -1.11 Ho Chi Minh 521.88 529.44 -1.43 Change so far this year Market Current End prev yr Pct Move Singapore 2532.7 2882.73 -12.14 Bangkok 1245.61 1288.02 -3.29 Manila 6084.28 6952.08 -12.48 Jakarta 4414.126 4593.008 -3.89 Kuala Lumpur 1600.92 1692.51 -5.41 Ho Chi Minh 521.88 579.03 -9.87 ($1 = 47.8500 Philippine pesos) ($1 = 4.3730 ringgit) ($1 = 13,907.0000 rupiah) ($1 = 36.2600 baht) (Reporting by Viparat Jantraprap; Editing by Sunil Nair)
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