12 de agosto de 2015 / 10:20 / en 2 años

SE Asia Stocks-Tumble as China devaluation hurts sentiment

JAKARTA, Aug 12 (Reuters) - Southeast Asian stocks slumped
on Wednesday as China's move to extend the yuan devaluation hurt
other Asian currencies and hit sentiment toward stocks.
    Indonesian stocks led the regional decline with a 3.1
percent fall, its biggest one-day loss in nearly four months.
The index ended the day at its lowest close in one-and-a-half
    "China's move to devalue the yuan only confirms that the
Chinese economy is doing poorly," said a trader in Jakarta. "The
yuan devaluation now may not be much if we look back
historically, but it badly hurts other currencies, which in turn
hurts stocks."       
    All emerging currencies slid on Wednesday with the rupiah
 and the ringgit at 17-year lows, while the
Singapore dollar and Philippine peso hit their lowest in five
    MSCI's broadest index of Asia-Pacific shares outside Japan
 fell 2 percent, touching a two-year low.
    Meanwhile, Indonesia's long-awaited cabinet reshuffle failed
to boost sentiment as investors don't expect it to instantly
improve the country's economy, which grew at its slowest since
    In Singapore, banking stocks were among the biggest
decliners, dragging the index down 2.9 percent to its
lowest closing since March 2014. 
    Shares of Noble Group Ltd were down 11 percent
despite a buyback plan.  
    The Malaysian index was down 1.6 percent while the
Philippines lost 1 percent and Vietnam fell 1.4
    The Thai market was closed for a public holiday.

For Asian Companies click;  

 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          3061.49       3153.06       -2.90
 Kuala Lumpur       1609.93       1636.71       -1.64
 Bangkok               --         1420.13         --
 Jakarta            4479.49       4622.59       -3.10
 Manila             7495.43       7570.45       -0.99
 Ho Chi Minh         604.24        613.05       -1.44
 Change on year
 Market             Current       End 2014    Pct Move
 Singapore          3061.49       3365.15       -9.02
 Kuala Lumpur       1609.93       1761.25       -8.59
 Bangkok            1408.32       1497.67       -5.97
 Jakarta            4479.49       5226.95       -14.3
 Manila             7508.51       7230.57       +3.84
 Ho Chi Minh         604.24        545.63       +10.7

 (Reporting by Fransiska Nangoy; Editing by Sunil Nair)

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