SE Asia Stocks-Malaysia hits one-week low; Thai banks fall on Sahaviriya loans
BANGKOK, Sept 21 (Reuters) - Southeast Asian stock markets ended mostly flat to weaker on Monday, with the Malaysian benchmark sliding to a more than one-week low, in line with a weak ringgit, while some Thai banks fell on concerns over bad loans related to an ailing steelmaker. Malaysia's Kuala Lumpur composite index dropped 1.8 percent to the lowest close since Sept. 11. Top two losers were Genting Malaysia, down 7.6 percent, followed by IOI Corp, down 5.5 percent. Malaysia's ringgit led regional slides on Monday, with some traders citing a Wall Street Journal report that the U.S. Federal Bureau of Investigation is investigating allegations of money-laundering at troubled 1Malaysia Development Bhd adding to negative sentiment. The Thai SET index rose a modest 0.2 percent after moving rangebound, with shares of food firm Charoen Pokphand Foods leading among gainers. Siam Commercial Bank and Krung Thai Bank each declined more than 2 percent, while Tisco Financial Group eased 0.7 percent due to concerns of impact of provisions to loans to steel firm Sahaviriya Steel Industries . "The Thai market overall followed the direction of regional markets. Selling pressure was in bank creditors of SSI since early in the day," said broker CIMB Securities. Sentiment in Asia and global markets was weak as the uncertainty created by last week's latest postponement to the Federal Reserve's rate hike and continued jitters over China and emerging markets dampened sentiment. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 2882.27 2879.59 +0.09 Kuala Lumpur 1639.47 1669.45 -1.80 Bangkok 1392.73 1390.32 +0.17 Jakarta 4376.08 4380.32 -0.10 Manila 7092.41 7131.91 -0.55 Ho Chi Minh 572.12 566.25 +1.04 Change on year Market Current End 2014 Pct Move Singapore 2882.27 3365.15 -14.35 Kuala Lumpur 1639.47 1761.25 -6.91 Bangkok 1392.73 1497.67 -7.01 Jakarta 4376.08 5226.95 -16.28 Manila 7092.41 7230.57 -1.91 Ho Chi Minh 572.12 545.63 +4.85 (Reporting by Viparat Jantraprap; Editing by Anand Basu)
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