SE Asia Stocks-Down after Chinese clampdown; Manila underperforms

lunes 20 de abril de 2015 02:52 GYT

April 20 (Reuters) - All Southeast Asian stock markets fell
on Monday, tracking global markets on concerns of further
crackdowns on margin financing by Chinese authorities, but
China's decision to cut reserve requirement ratio capped further
    Philippines underperformed the region with a 1.8
percent fall, trading at a near one-month low, led by
    Singapore's Strait Times Index was 0.7 percent down
at a near one-week low and Indonesia's Jakarta Composite Index
 fell 0.4 percent to its lowest since March 27, while
Thailand's SET Index was 0.3 percent lower.
    China on Friday allowed fund managers to lend shares for
short-selling, and will also expand the number of stocks
investors can short sell, in a bid to raise the supply of
securities in the market. 
    On Sunday, the People's Bank of China (PBOC) also announced
a 100 basis points cut in the reserve requirement ratio (RRR)
for major banks and a further 50 basis points RRR cut for
qualified state owned enterprise and joint stock banks.
    Traders said PBOC's rate cuts before the Monday session has
saved the market from a "a bloodbath". 
    Renewed debt worries in Greece also weighed on the risky
    Investors locked in gains in Manila shares because targets
were hit already, said Nisha Alicer, head analyst at DA Market
Securities Inc in Manila. 
    "Companies already hit full-year price targets in the first
quarter alone," she said adding that holding firms, the biggest
sub-sector laggard, are still prone to corrections as they are
still trading at near record highs.
    In Bangkok, financials dragged the market after
disappointing results by TMB Bank. 
    "Externally, the western bourses fell on worries over how
Greece may service its debts. This may kindle traders to lock in
profits, on prevailing high prices," KGI Securities said in a
note to investors.
    "Internally, the market may opt to digest banks' 1Q15
results," the brokerage said.
    Vietnam's VN Index fell 0.41 percent as investors
booked profit after recent gains, while Malaysia was
down 0.1 percent.
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 Change at 0620 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3502.33       3525.19       -0.66
 Kuala Lumpur       1843.63       1845.86       -0.13
 Bangkok            1561.90       1566.85       -0.32
 Jakarta            5387.95       5410.64       -0.42
 Manila             7798.16       7946.89       -1.87
 Ho Chi Minh         565.32        568.32       -0.53
 (Reporting by Shihar Aneez in COLOMBO, Viparat Jantraprap in
BANGKOK, and Neil Jerome Morales in MANILA; Editing by Anand