SE Asia Stocks -Most fall; Jakarta index down on political uncertainty
July 11 (Reuters) - Indonesia's benchmark index fell on Friday from a 13-month closing high hit in the previous session as uncertainty over the outcome of the presidential election held earlier this week prompted investors to sell risky assets. The Jakarta Composite Index ended 1.3 percent down with financial firms leading the losses. Bank Rakyat Indonesia Persero Tbk PT and Bank Central Asia fell more than 1.5 percent each. Analysts said local retail and institutional investors sold shares and foreigners were on the buying side. Indonesia saw a net $253.75 million foreign inflow into stocks on Friday. Both presidential candidates, Joko "Jokowi" Widodo and his rival, former general Prabowo Subianto, claimed victory in Wednesday's election, the closest ever in the world's third biggest democracy. The Election Commission will announce the official result around July 22. "I think the uncertainty may continue even after the president is elected until he appoints the cabinet," said John Teja, director of Jakarta-based broker Ciptadana Securities. Outperforming the Jakarta market, shares of property developer PT Sitara Propertindo Tbk ended with a 70 percent gain in their trading debut on Friday. In Singapore, United Overseas Bank Ltd ended 3.6 percent up after jumping 4.2 percent in early trade. Singapore Exchange Securities Trading Limited cautioned investors after the bank said it was unaware of any reason that could possibly explain the gain. Most other markets traded weaker with the Philippines ending 0.5 percent down, Malaysia 0.5 percent weaker and Vietnam ending 0.4 percent lower. Bucking the trend, Singapore closed 0.7 percent up. The Thai stock market was closed for a holiday. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 438.92 439.69 -0.18 Singapore 3293.73 3269.50 +0.74 Kuala Lumpur 1883.15 1892.62 -0.50 Jakarta 5032.60 5098.01 -1.28 Manila 6901.09 6937.21 -0.52 Ho Chi Minh 582.77 584.88 -0.36 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 438.92 388.37 +13.02 Singapore 3293.73 3167.43 +3.99 Kuala Lumpur 1883.15 1866.96 +0.87 Bangkok 1518.01 1298.71 +16.89 Jakarta 5032.60 4274.18 +17.74 Manila 6901.09 5889.83 +17.17 Ho Chi Minh 582.77 504.63 +15.48 * 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 = 11580.0000 rupiah) ($1 = 3.1840 Malaysian ringgit) (Reporting by Shihar Aneez in Colombo; Editing by Sunil Nair)
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