SE Asia Stocks-Fall after N. Korea nuclear tests, ECB
By Krishna V Kurup Sept 9 (Reuters) - Southeast Asian stock markets fell on Friday in line with broader Asian peers after North Korea conducted its fifth and largest nuclear test, while uncertainty over the prospect of further easing from the European Central Bank weighed on sentiment. The ECB held interest rates on hold as expected on Thursday and said it will study policy options to ensure it can pursue its unprecedented money-printing programme but did not hint at the anticipated extension of its asset purchases. "ECB's disappointing comments were the key driver of today's market weakness across the region," said Taye Shim, an analyst with Daewoo Securities Indonesia. "Most market participants were waiting for the ECB to announce some aggressive stimulus measures or at least an extension to their current asset purchases programme which they failed to." North Korea conducted a nuclear test that was more powerful than the bomb dropped on Hiroshima, with the nation saying it had mastered the ability to mount a warhead on a ballistic missile. Indonesian shares dropped 1.7 percent to their lowest in nearly six weeks, with financials and telecoms weighing down the index, and posted a weekly fall of 1.3 percent. Telekomunikasi Indonesia (Persero) Tbk PT fell 2.6 percent and Bank Mandiri (Persero) Tbk PT lost 3.1 percent. The Indonesian market declined because foreign investors were "taking profits", Shim added. Philippine shares closed 1.1 percent lower, with financials and consumer staples among the biggest losers. They declined 2.9 percent this week. Index heavyweight PLDT Inc led the losers with a drop of 3.7 percent, while Jollibee Foods Corp lost 4.5 percent. Singapore shares closed down 0.7 percent after losing as much as 1 percent earlier in the day, but posted a gain of 2.5 percent for the week. Financials and telecoms pulled down the index on Friday, with Singapore Telecommunications Ltd and DBS Holdings Ltd among the biggest losers. Vietnam shares closed marginally higher but were down 0.4 percent for the week. MSCI's broadest index of Asia-Pacific shares outside Japan was down 1 percent at 0940 GMT. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on day Market Current Prev close Pct Move Singapore 2873.33 2894.48 -0.73 Bangkok 1445.28 1455.38 -0.69 Manila 7581.79 7667.07 -1.11 Jakarta 5281.917 5371.078 -1.66 Kuala Lumpur 1686.44 1691.38 -0.29 Ho Chi Minh 666.88 666.07 0.12 Change on year Market Current End 2015 Pct Move Singapore 2873.33 2882.73 -0.33 Bangkok 1445.28 1288.02 12.21 Manila 7581.79 6952.08 9.06 Jakarta 5281.917 4593.008 15.00 Kuala Lumpur 1686.44 1692.51 -0.36 Ho Chi Minh 666.88 579.03 15.17 (Reporting by Krishna V Kurup in Bengaluru; Editing by Subhranshu Sahu)
© Thomson Reuters 2016 All rights reserved.