SE Asia Stocks-Indonesia leads decline; Thai consumer shares up
BANGKOK, Sept 7 (Reuters) - Southeast Asian stock markets fell on Monday amid weak sentiment in Asia and concerns over the economic outlook in China, but hopes of economic measure to revive domestic consumption lifted Thai consumer shares. The Thai SET index edged up 0.2 percent to 1,373.44, rebounding from an early low of 1,365.70. Shares of CP All Pcl , the most actively traded on the index, rose 1.5 percent, with Big C Supercenter and Mida Assets among gainers. The index is expected to move in a narrow range, brokers said, citing political concerns following a rejection of a new constitution over the weekend which will push back an election to April 2017 at the earliest. "As the political timeline may be delayed by about seven months, foreign equity outflows and Thai baht weakness will remain. However, downside risk may be limited by continued optimism on Thai stimulus packages," said broker KGI Securities. Stocks in Singapore, Malaysia, Indonesia and the Philippines all declined for a second day, with Asia pressured by China's slowdown and investors awaiting U.S. Federal Open Market Committee's discussion of monetary policy on Sept. 17. Broker Citi cut its target on Malaysia's key stock index to 1,745 from 1,850, saying Malaysia's earnings revision is weaker than it was during the SARS epidemic in 2003, and is approaching levels of global financial crisis. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0524 GMT Market Current Prev Close Pct Move Singapore 2849.93 2863.81 -0.48 Kuala Lumpur 1580.30 1589.16 -0.56 Bangkok 1373.44 1370.75 +0.20 Jakarta 4320.56 4415.34 -2.15 Manila 6962.77 7051.78 -1.26 Ho Chi Minh 558.34 556.81 +0.27 (Reporting by Viparat Jantraprap; Editing by Anand Basu)
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