SE Asia Stocks - Fall; Indonesia near 2-week low on weak rupiah
BANGKOK, March 9 (Reuters) - Indonesian index hit a near two-week closing low on Monday as a depreciating rupiah dented company earnings outlooks while Thai banking shares retreated as investors cashed in on recent gains ahead of the central bank's interest rate decision mid-week. The benchmark Jakarta composite index ended down 1.3 percent at 5,444.63 from Friday's record closing high of 5,514.79. The rupiah lost 0.7 percent to 13,070 per dollar, its weakest since August 1998. For every 1 percent rupiah depreciation against the dollar, the market's earnings per share growth will fall by 0.8 percent, broker Bahana Securities said in a report. In Bangkok, the SET index finished the day down 0.6 percent, reversing the gain on Friday. Losers included shares of Kasikornbank and Krung Thai Bank. The Bank of Thailand's Monetary Policy Committes will meet on Wednesday to review a policy interest rate. A Reuters poll showed sixteen of 21 economists predict the one-day repurchase rate will be left at 2.0 percent, while the other five expect a 25 basis point cut. Singapore ended down 0.4 percent, recouping some earlier losses, Malaysia fell to a near four-week closing low, while the Philippines retreated from Friday's record closing high and Vietnam fell for a third day. 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 Singapore 3404.57 3417.51 -0.38 Kuala Lumpur 1791.74 1806.96 -0.84 Bangkok 1559.71 1568.29 -0.55 Jakarta 5444.63 5514.79 -1.27 Manila 7820.29 7861.33 -0.52 Ho Chi Minh 588.44 593.97 -0.93 Change on year Market Current End 2014 Pct Move Singapore 3404.57 3365.15 +1.17 Kuala Lumpur 1791.74 1761.25 +1.73 Bangkok 1559.71 1497.67 +4.14 Jakarta 5444.63 5226.95 +4.16 Manila 7820.79 7230.57 +8.16 Ho Chi Minh 588.44 545.63 +7.85 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)
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