SE Asia Stocks-Most down tracking global markets on growth concerns
JAKARTA, April 8 (Reuters) - Most Southeast Asian stock markets fell on Friday and headed for weekly losses as risk aversion continued on renewed concerns over global growth. Singapore's Straits Times Index led the regional decline. The index fell as much as 1.07 percent, heading for its third weekly losses, while the Malaysian market was down 0.5 percent. "Regional stock markets declined as global growth concerns came back to haunt the markets and the Fed appears to keep its tightening bias on track," Phillip Capital in Bangkok said. "Also, the world's crude oil price is taking a roller-coaster ride along with high crude inventories." Broader Asian markets fell following the overnight decline in the U.S. and European markets on concerns of major European lenders struggling with zero interest rate. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5 percent on Friday. Lack of positive domestic catalysts and concerns over first-quarter results in Indonesia caused a 0.7 percent fall in the Jakarta Composite Index, said Trimegah Securities. Indonesian companies will start reporting first-quarter results later this month. Among the biggest decliners in Indonesia were two of the country's largest banks. PT Bank Mandiri Tbk lost 3.6 percent while PT Bank Rakyat Indonesia Tbk dropped 1.8 percent. Bucking the trend, Thailand stock index rose 0.3 percent after five consecutive sessions of losses. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change 0426 GMT Market Current Prev close Pct move Singapore 2794.61 2813.59 -0.67 Kuala Lumpur 1716.28 1724.29 -0.46 Bangkok 1361.69 1356.69 0.37 Jakarta 4831.58 4867.29 -0.73 Manila 7222.76 7232.97 -0.14 Ho Chi Minh 571.74 571.6 0.02 (Reporting by Fransiska Nangoy; Editing by Gopakumar Warrier)
© Thomson Reuters 2017 All rights reserved.