August 15, 2018 / 4:18 AM / 3 months ago

SE Asia Stocks-Muted; Thailand, Indonesia extend slide

    * Indonesia slips ahead of cbank rate review
    * Thailand led lower by energy stocks 

    By Ambar Warrick
    Aug 15 (Reuters) - Most Southeast Asian stock markets traded
in tight ranges on Wednesday as the fallout from Turkey's
currency crisis kept risk appetite sour, with Thai and
Indonesian shares extending their deep losses from previous
sessions.
    Southeast Asian stocks and currencies had been hit by heavy
selling over as the collapse of the Turkish lira
stoked fears that other emerging markets could be vulnerable to
shocks from foreign capital outflows. Asian shares showed no
signs of recovery, with MSCI's broadest index of Asia-Pacific
shares outside Japan slipping about 0.7 percent
on Wednesday.
    The lira's plunge sent the Indonesian rupiah to a
near three-year low, with investors treading cautiously as Bank
Indonesia is set to reach a decision on its key interest rate
later in the day.
    Indonesian shares slipped, set to extend a 5 percent
plunge over the last two sessions.
    The central bank is expected to keep its benchmark interest
rate unchanged despite a plunge in the rupiah, a Reuters poll
showed.
    "Consensus does not expect a Bank Indonesia hike today but
we suspect that the decision will be a close call," DBS said in
a note.
    "Spillover from Turkey's crisis and a large second-quarter
current account deficit print have seen rupiah assets come under
pressure. However, in the short term, emerging market sentiment
is key."
    Thai shares fell about 0.7 percent, dragged primarily
by energy stocks as oil prices fell. Oil and gas companies PTT
PCL and PTT Exploration and Production PCL
lost about 1.4 percent each.

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0408 GMT
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3237.17   3242.87         -0.18
 Bangkok            1683.62   1695.35         -0.69
 Manila             7542.4    7527.78         0.19
 Jakarta            5757.075  5769.873        -0.22
 Kuala Lumpur       1785.44   1783.78         0.09
 Ho Chi Minh        978.03    978.27          -0.02
                                              
 Change on year                               
 Market             Current   End 2017        Pct Move
 Singapore          3237.17   3402.92         -4.87
 Bangkok            1683.62   1753.71         -4.00
 Manila             7542.4    8558.42         -11.87
 Jakarta            5757.075  6355.654        -9.42
 Kuala Lumpur       1785.44   1796.81         -0.63
 Ho Chi Minh        978.03    984.24          -0.63
 
 (Reporting by Ambar Warrick in Bengaluru; Editing by Amrutha
Gayathri)
  
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