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