April 8, 2016 / 4:56 AM / 2 years ago

SE Asia Stocks-Most down tracking global markets on growth concerns

JAKARTA, April 8 (Reuters) - Most Southeast Asian stock
markets fell on Friday and headed for weekly losses as risk
aversion continued on renewed concerns over global growth.
    Singapore's Straits Times Index led the regional
decline. The index fell as much as 1.07 percent, heading for its
third weekly losses, while the Malaysian market was down
0.5 percent. 
    "Regional stock markets declined as global growth concerns
came back to haunt the markets and the Fed appears to keep its
tightening bias on track," Phillip Capital in Bangkok said. 
    "Also, the world's crude oil price is taking a
roller-coaster ride along with high crude inventories."
    Broader Asian markets fell following the overnight decline
in the U.S. and European markets on concerns of major European
lenders struggling with zero interest rate. MSCI's broadest
index of Asia-Pacific shares outside Japan fell
0.5 percent on Friday. 
    Lack of positive domestic catalysts and concerns over
first-quarter results in Indonesia caused a 0.7 percent fall in
the Jakarta Composite Index, said Trimegah Securities. 
    Indonesian companies will start reporting first-quarter
results later this month.
    Among the biggest decliners in Indonesia were two of the
country's largest banks. PT Bank Mandiri Tbk lost 3.6
percent while PT Bank Rakyat Indonesia Tbk dropped 1.8
    Bucking the trend, Thailand stock index rose 0.3
percent after five consecutive sessions of losses.
    For Asian Companies click;  

 Change 0426 GMT
 Market           Current    Prev close   Pct move
 Singapore          2794.61     2813.59       -0.67
 Kuala Lumpur       1716.28     1724.29       -0.46
 Bangkok            1361.69     1356.69        0.37
 Jakarta            4831.58     4867.29       -0.73
 Manila             7222.76     7232.97       -0.14
 Ho Chi Minh         571.74       571.6        0.02
 (Reporting by Fransiska Nangoy; Editing by Gopakumar Warrier)
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