August 14, 2018 / 4:12 AM / a month ago

SE Asia Stocks-Philippines extends rout, Thailand slides as trading resumes

    * Most Southeast Asian stock markets fall
    * Philippine, Thai shares drop to near 3-week low
    * Indonesian shares extend losses to 5-week low
    * Asian shares ex-Japan edge lower

    By Ambar Warrick
    Aug 14 (Reuters) - Philippine shares slumped on Tuesday,
extending a rout from the previous session, while Thailand
caught up with a slide in global shares as trade resumed after a
holiday, with the Turkish lira's collapse keeping risk appetite
fragile across emerging markets.
    Most other Southeast Asian stock markets also extended
losses from the previous day, in line with broader Asia, with
MSCI's broadest index of Asia-Pacific shares outside Japan
 slipping about 0.1 percent by 0235 GMT. 
    The lira eased further after losing about 8
percent on Monday.
    "Asian markets are likely to trade with a nervous tone today
amid the ongoing Turkish jitters," OCBC Bank said in a note.
    The lira has lost about 82 percent of its value against the
dollar this year, largely over worries about President Tayyip
Erdogan's influence over the economy, his repeated calls for
lower interest rates in the face of high inflation and
deteriorating ties with the United States. 
    Philippine shares slumped 1.5 percent to a near
three-week low, extending a 2.2 percent drop on Monday, with the
Bank of the Philippine Islands down 2.4 percent and
property developer SM Prime Holdings Inc 2.3 percent
lower.
    Thai stocks slid 1.3 percent to their lowest in
nearly three weeks, as trading resumed after Monday's holiday,
with financials and energy stocks accounting for a bulk of the
losses. 
    Siam Commercial Bank PCL shed 0.7 percent, while
oil and gas explorers PTT PCL and PTT Exploration and
Production PCL lost nearly 1 percent each.
    The Thai baht also fell about 0.2 percent to the
dollar.
    Indonesian shares, which plunged 3.6 percent on
Monday, eased further to a five-week low, with the rupiah near a
three-year low against the dollar.

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SOUTHEAST ASIAN STOCK MARKETS AS AT 0400 GMT:
    
 STOCK MARKETS                                
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3239.8    3245.34         -0.17
 Bangkok            1687.78   1705.96         -1.07
 Manila             7524.11   7635.27         -1.46
 Jakarta            5853.451  5861.246        -0.13
 Kuala Lumpur       1783.74   1783.34          0.02
 Ho Chi Minh        975.51    978.04          -0.26
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3239.8    3402.92         -4.79
 Bangkok            1687.78   1753.71         -3.76
 Manila             7524.11   8558.42         -12.09
 Jakarta            5853.451  6355.654        -7.90
 Kuala Lumpur       1783.74   1796.81         -0.73
 Ho Chi Minh        975.51    984.24          -0.89
 
 (Reporting by Ambar Warrick in Bengaluru; Editing by Amrutha
Gayathri)
  
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