SE Asia Stocks-Mostly down; banking stocks drag Singapore lower
JAKARTA, April 29 (Reuters) - Most Southeast Asian stock indexes fell on Friday amid weakness in global markets, with Singapore leading the losses, dragged by banking stocks on lower earnings, and Indonesian shares declining on selling by foreign investors. Singapore's Straits Times Index fell 0.8 percent, concluding the week with a 3.5 percent loss, its worst weekly decline in more than three months. Three heavy-weight banking stocks pulled the Singapore index lower, with Oversea-Chinese Banking Corp Ltd falling 1.46 percent after its March quarter earnings missed analysts' forecast. Shares of rivals United Overseas Bank Ltd and DBS Group Holdings fell more than 1 percent each. Indonesia's main stock index closed 0.2 percent lower, dragged by market heavyweights PT Unilever Indonesia and PT Gudang Garam. "So far, 30 companies under our coverage have reported their first-quarter financials with aggregate earnings growth being 1 percent year-on-year which was quite disappointing, even though on a quarter-on-quarter the growth was still on an upward trend," Maybank KimEng Indonesia wrote. Foreign investors were seen offloading local equities on Friday, their fourth straight session of selling. Philippine stocks closed marginally lower, while Malaysian shares fell 0.1 percent. Bucking the trend, the Thai stock index posted its first gain in three sessions and Vietnam's index jumped 1.1 percent. Most Southeast Asian markets will be closed on Monday for Labour Day, with the exception of Indonesia and the Philippines. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Pct Close Change Singapore 2838.52 2862.3 -0.83 Kuala Lumpur 1672.72 1674.76 -0.12 Thailand 1404.61 1399.91 0.34 Jakarta 4838.58 4848.39 -0.2 Manila 7159.29 7162.56 -0.05 Ho Chi Mihn 598.37 591.67 1.13 Change on year Current End 2015 Pct Change Singapore 2838.52 2882.73 -1.53 Kuala Lumpur 1672.72 1692.51 -1.17 Thailand 1404.61 1288.02 9.05 Jakarta 4838.58 4593.01 5.35 Manila 7159.29 6952.08 2.98 Ho Chi Minh 598.37 579.03 3.34 (Reporting by Fransiska Nangoy; Editing by Anupama Dwivedi)
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