News Room - Business/Economics

Posted on 28 Jul 2015

Most fall; Thai index near 14-month low

Most Southeast Asian stock markets fell more than 1 percent on Monday as selloffs in China and Asian shares prompted investors to cut risk holdings, with the Thai benchmark hitting a near 14-month low after June exports tumbled more than expected.

The Thai SET index fell 1.8 percent to 1,412.55, its lowest close since May 29, 2014, led down by a 1.6 percent drop in shares of mobile phone firm Advanced Info Service, the most actively traded.

Data released by the Commerce Ministry showed the June exports fall was the biggest drop since late 2011, indicating the country's weaker currency is not yet helping fire up the country's traditional long-stalled growth engine.

Jakarta's composite index ended the day down 1.8 percent at the lowest close since April 2014, while the Philippines snapped a four-day rising streak, retreating 1.5 percent.

Singapore fell for a fifth day to a two-week closing low and Malaysia posted a fourth straight day of losses.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.7 percent, amid worries over China and investors braced for a Federal Reserve meeting that might take another small step toward lifting U.S. interest rates.

SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          3313.42       3352.65       -1.17
 Kuala Lumpur       1709.76       1720.76       -0.64
 Bangkok            1412.55       1438.08       -1.78
 Jakarta            4771.28       4856.59       -1.76
 Manila             7547.44       7665.52       -1.54
 Ho Chi Minh         635.46        631.26       +0.67
 
 Change on year
 Market             Current       End 2014    Pct Move
 Singapore          3313.42       3365.15       -1.54
 Kuala Lumpur       1709.76       1761.25       -2.92
 Bangkok            1412.55       1497.67       -5.68
 Jakarta            4771.28       5226.95       -8.72
 Manila             7547.44       7230.57       +4.38
 Ho Chi Minh         635.46        545.63      +16.46