May 4, 2016 / 6:06 AM / 2 years ago

SE Asia Stocks-Mostly down on global risk-off on renewed growth concerns

JAKARTA, May 4 (Reuters) - Most Southeast Asian stock
markets fell on Wednesday on renewed global growth concerns,
while Indonesian shares extended their losses after data showed
the country's economy grew at a slower-than-expected pace in the
first quarter.
    Concern over global growth is re-escalating after the latest
China PMI data and as the European Commission lowered its
inflation forecast, analysts at KDB Daewoo Securities in Jakarta
wrote in a note.
    Activity at China's factories shrank for the 14th straight
month in April as demand stagnated, forcing companies to shed
jobs at a faster pace, a private survey showed on Tuesday.
    Singapore's stock index fell 1.6 percent as shares of
Singapore Telecommunications Ltd and Oversea-Chinese
Banking Corp Ltd extended losses.
    CIMB downgraded its rating on OCBC shares and cut its target
price to S$8.8 from S$10.01. 
    Indonesia's Jakarta Composite Index (JCI) fell 0.9
percent after the Indonesian statistics agency reported first-
quarter GDP growth of 4.92 percent, below the median expectation
of 5.05 percent in a Reuters poll. 
    Bucking the trend, Malaysian shares rose 0.1
    The Thai and Indonesian markets will remain closed on May
5-6 for public holidays and will reopen on May 9.    
For Asian Companies click;  

 Change on 0528 GMT
 Market         Current     Prev       Pct
                            close     change
 Singapore        2762.6     2811.2     -1.73
 Kuala Lumpur    1653.08    1651.44       0.1
 Bangkok         1388.74    1397.87     -0.65
 Jakarta         4770.75    4812.26     -0.86
 Manila          7002.32    7046.57     -0.63
 Ho Chi Minh      596.66     598.37     -0.29
 (Reporting by Fransiska Nangoy; Editing by Anupama Dwivedi)
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