SE Asia Stocks - Malaysia, S'pore lead regional decline on Greek debt fears
BANGKOK, June 29 (Reuters) - Major Southeast Asian stock markets fell on Monday as fears of a Greek debt default prompted foreign outflows, sending the Malaysian index to an over-six-month low while the Indonesian benchmark fell to a near-two-week low. Kuala Lumpur's composite index was down 1.1 percent at 1,691.92, the lowest close since Dec. 17, with 25 out of 30 stocks listed on the index sliding. Selling also hit the ringgit which traded at a 10-year low. Singapore's key Straits Times Index shed 1.2 percent to 3,280.18, the lowest close since Dec. 19. Jakarta's composite index was down 0.8 percent at 4,882.58, the lowest close since June 16, taking its year-to-date loss to 6.7 percent, Asia's worst performing index, followed by Malaysia's 3.9 percent decline, the second worst. Foreign investors sold Indonesian shares worth a net 394 billion rupiah ($29.54 million) and offloaded Malaysian shares worth a net 105 million ringgit ($27.76 million), stock exchange and Thomson Reuters data showed. Indexes in Thailand and the Philippines recouped most of their early losses. Vietnam jumped 1.72 percent amid gains in most big-caps. Manila-based Regina Capital expected stock market volatility in the Philippines to continue in the near term. "This is mostly psychological but market volatility should remain since the initial reaction of fund managers is to shift to safe havens," said analyst Jason Bibit. European shares sank almost 4 percent and government bond yields in Italy, Spain and Portugal jumped on Monday as investors priced in a growing risk that Greece will be the first country to leave the euro. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 3280.18 3320.90 -1.23 Kuala Lumpur 1691.92 1710.47 -1.08 Bangkok 1511.19 1518.03 -0.45 Jakarta 4882.58 4923.01 -0.82 Manila 7567.38 7622.05 -0.72 Ho Chi Minh 591.75 581.75 +1.72 Change on year Market Current End 2014 Pct Move Singapore 3280.18 3365.15 -2.52 Kuala Lumpur 1691.92 1761.25 -3.94 Bangkok 1511.19 1497.67 +0.90 Jakarta 4882.58 5226.95 -6.59 Manila 7567.38 7230.57 +4.66 Ho Chi Minh 591.75 545.63 +8.45 ($1 = 13,340.0000 rupiah) ($1 = 3.7825 ringgit) (Reporting by Viparat Jantraprap; Editing by Sunil Nair)
© Thomson Reuters 2017 All rights reserved.