SE Asia Stocks-Most start Q3 on weak note, property stocks lead Singapore fall
BANGKOK, July 1 (Reuters) - Southeast Asian stock markets were broadly weaker on Tuesday, with shares of Singapore's property firms easing on weak industry data while Indonesian stocks retreated from a near two-week high on Monday after June inflation data. Losses in Singapore were led by shares of Hongkong Land Holdings, which dropped as much as 3.2 percent to the lowest in almost three months, the worst performers on the market while shares of CapitaLand shed nearly 1 percent. Data released early on Tuesday showed prices of Singapore's non-landed private residential properties in all market segments fell in the second quarter of 2014, marking the third straight quarterly decline. The benchmark Straits Times Index was down 0.4 percent, at its lowest since May 12. In Jakarta, investors cashed in on recent gains in banking shares such as Bank Rakyat Indonesia and Bank Central Asia, sending Indonesia's key index 0.2 percent lower. The annual inflation rate in Indonesia eased in June and was near analysts' forecasts, data from the statistics bureau showed on Tuesday. Some foreign investors have slightly trimmed their positions to "neutral" ahead of the July presidential election, Broker Danaresksa said, citing a recent overseas marketing trip. "As most investors prefer to wait until the release of the election quick count on 10 July, before deciding their next move, market liquidity will continue to remain dry," it said in a report. Jakarta's composite index ended the second quarter at a near two-week high of 4,878.58. The market saw foreign inflows worth a net 2.8 trillion rupiah ($237 million) in June, the weakest monthly inflows in 2014, Thomson Reuters data showed. Stocks in the Philippines and Malaysia were range-bound as Asian shares were firm near a three-year high on upbeat Chinese manufacturing data and expectations that U.S. monetary policy will stay loose for some time. The Thai stock market is closed for a market holiday and will reopen on Wednesday. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0427 GMT Market Current Prev Close Pct Move TR SE Asia Index* 427.57 427.71 -0.03 Singapore 3241.57 3255.67 -0.43 Kuala Lumpur 1877.14 1882.71 -0.30 Bangkok -- 1485.75 -- Jakarta 4869.41 4878.58 -0.19 Manila 6843.42 6844.31 -0.01 Ho Chi Minh 480.49 578.13 +0.41 * The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. ($1 = 11815.0000 Rupiahs) (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)
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