SE Asia Stocks-Major indexes fall; Greek crisis hits sentiment
BANGKOK, June 29 (Reuters) - Southeast Asian stock markets fell on Monday as investors unloaded risky assets amid a worsening Greek debt crisis, with Singapore and Malaysia at multi-month lows, and the Thai benchmark briefly piercing below the 1,500 level for the first time in five days. Share prices tumbled across Asia and the euro fell almost 2 percent on Monday as Greece looked set to default on its debt repayment this week, forcing Athens to impose capital controls to halt bank runs. Singapore's key Straits Times Index was down 1.4 percent, at its lowest since Jan. 7, with 29 out of 30 stocks measured by the index lower. The Malaysian bourse also saw broad-based selling, with as many as 28 out of 30 stocks down on the key Kuala Lumpur composite index, which lost 1.2 percent to hit its lowest since Dec. 18. In Bangkok, the SET index traded 0.9 percent lower after touching an intra-day low of 1,495.86. Domestic institutions had led buying to lift the index above the psychological level of 1,500 in four sessions to Friday. Strategists at broker Maybank Kim Eng Securities expected the SET index to further weaken to the 1,490 level later in the day. "The Greek situation will pressure worldwide markets in the near term," they wrote in a report. Indexes in Indonesia and the Philippines both reversed gains from Friday and hit a near two-week low on Monday. Vietnam bucked the trend, rebounding 0.8 percent from the fourth-straight loss on Friday. Shares of Indonesian property firm Lippo Karawaci, Malaysia's oil field service firm Bumi Armada and Singapore's CapitaLand were among bottom performers on MSCI's index of Southeast Asia. A fall in global oil prices in the face of the Greek debt impasse hit index heavyweight energy shares such as Thailand-listed PTT which was down 1.4 percent, trimming some of its 2.8 percent advance last week. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0357 GMT Market Current Prev Close Pct Move Singapore 3275.75 3320.90 -1.36 Kuala Lumpur 1690.71 1710.47 -1.16 Bangkok 1504.57 1518.03 -0.89 Jakarta 4867.47 4923.00 -1.14 Manila 7570.96 7622.05 -0.67 Ho Chi Minh 586.33 581.75 +0.79 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)
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