SE Asia Stocks - Most retreat; Indonesia posts worst drop since August 2013

lunes 27 de abril de 2015 06:56 GYT

BANGKOK, April 27 (Reuters) - Most Southeast Asian stock
markets retreated on Monday in rangebound trade on foreign
investors-led selling, with the Indonesian benchmark nearly
oversold amid earnings concerns, while Thai banks fell ahead of
an interest rate decision this week.
    The Jakarta composite index dropped 3.5 percent, its
worst since August 2013. Its 14-day Relative Strength Index
(RSI) was at 30.07, near an oversold territory of 30 or lower.
    Foreign investors sold large caps - including PT Bank
Mandiri Tbk, which planned a rights issue, and PT
Astra Agro Lestari Tbk following its disappointing
quarterly earnings.  
    The selloffs reflected concerns about weak first-quarter
earnings of listed firms and the outlook for the year, with a
weak rupiah eroding earnings growth, said Harry Su, head
of research at broker Bahana Securities.
    Thai stocks eased 0.4 percent, led by a 2.9 percent
loss in Krung Thai Bank. Foreign investors sold shares
worth a net 1.6 billion baht ($48.94 million) on the day, stock
exchange data showed. 
    Investors awaited a rate decision by the monetary policy
committee on Wednesday. A Reuters poll showed all but one of 20
economists predict the one-day repurchase rate will
be left unchanged at 1.75 percent. 
    The Philippines' key index ended higher 0.1 percent,
erasing most of its early gains. The bourse reported a net
foreign outflow worth 782 million pesos ($17.66 million), with
shares of BDO Unibank among hit large caps.
    Malaysia, which had touched its highest since Sept.
12 earlier in the day, ended down 0.2 percent. Singapore
 added a mere 0.1 percent, its third straight gain. 
    Vietnam was down 0.6 percent, reversing from a
one-week closing high on Friday. The market will be closed
between April 28 and May 1 for public holiday and trade will
resume on May 4. 
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 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          3515.85       3513.00       +0.08
 Kuala Lumpur       1859.58       1862.58       -0.16
 Bangkok            1548.83       1555.46       -0.43
 Jakarta            5245.45       5435.36       -3.49
 Manila             7958.07       7947.25       +0.14
 Ho Chi Minh         562.40        565.77       -0.60
 Change on year
 Market             Current       End 2014    Pct Move
 Singapore          3515.85       3365.15       +4.48
 Kuala Lumpur       1859.58       1761.25       +5.58
 Bangkok            1548.83       1497.67       +3.42
 Jakarta            5245.45       5226.95       +0.35
 Manila             7958.07       7230.57      +10.06
 Ho Chi Minh         562.40        545.63       +3.07
 ($1 = 44.2900 Philippine pesos)
($1 = 32.6900 baht)

 (Reporting by Viparat Jantraprap; Additional reporting by
Fransiska Nangoy in Jakarta; Editing by Subhranshu Sahu)