SE Asia Stocks-Malaysia leads fall as banking shares decline
JAKARTA, May 3 (Reuters) - Most Southeast Asian stock markets ended lower on Tuesday with the Malaysian index leading the decline amid falls in banking shares. The Malaysian stock index fell 1.3 percent to its lowest closing since Feb. 15, weighed down by the financial sector. Shares of Malayan Banking Bhd lost 1.7 percent, while CIMB Group Holdings Bhd fell 2.8 percent after central bank data last week showed banks' loan growth continued to ease in March, ahead of earnings announcements later this month. "In March, loans growth continued to decelerate but asset quality stablilized on month-on-month basis. However, indicators still point to subdued outlook with loan applications and approvals still falling," Kenanga Investment Bank said in a note on Tuesday. Singapore's Straits Times Index lost nearly 1 percent while Thai stocks fell 0.5 percent after the long weekend. Most Southeast Asian markets were closed on Monday to mark the May 1 Labour Day, which fell on Sunday. Philippine stocks failed to retain earlier gains and closed 0.1 percent lower as pre-election jitters lingered, while the Jakarta Composite Index (JCI) bucked the trend with a 0.1 percent gain. "The JCI has fallen by 2.2 percent since previous week's Monday amid plenty of disappointing results. We think a rebound is due," broker Trimegah Securities in Jakarta said. Indonesia is scheduled to release first-quarter GDP data on Wednesday. A Reuters poll showed first-quarter GDP inching up to 5.05 percent year-on-year, from 5.04 percent in the fourth quarter. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Pct close change Singapore 2811.2 2838.52 -0.96 Kuala Lumpur 1651.44 1672.72 -1.27 Bangkok 1397.87 1404.61 -0.48 Jakarta 4812.26 4808.32 0.08 Manila 7046.57 7053.88 -0.1 Change on year Market Current End 2015 Pct change Singapore 2811.2 2882.73 -2.48 Kuala Lumpur 1651.44 1692.51 -2.43 Bangkok 1397.87 1288.02 8.53 Jakarta 4812.26 4593.01 4.77 Manila 7046.57 6952.08 1.36 Ho Chi Mihn 598.37 579.03 3.34 (Reporting by Fransiska Nangoy; Editing by Sunil Nair)
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