SE Asia Stocks-Fall; Indonesia sees worst day in over a year
By Nikhil Nainan
Nov 30 (Reuters) - Southeast Asian stock markets fell
sharply on Thursday with Indonesia registering its biggest daily
fall in over a year as financials and consumer staples slipped,
while Singapore shares marked their lowest close in a week.
Indonesian shares, down 1.8 percent, recorded their
biggest intraday percentage drop since Nov 2016. The index lost
0.9 percent this month. Bank Central Asia Tbk PT, down
3.9 percent at its lowest in a month, was the biggest drag.
MSCI's broadest index of Asia-Pacific shares outside Japan
fell 1.6 percent after U.S. technology stocks
posted steep losses overnight, as investors shifted to
financials and other sectors that could potentially benefit from
lower regulation and taxes, as well as higher interest rates.
Singapore shares fell 0.2 percent to their lowest in
a week as losses in industrials were partially offset by gains
in financials and real estate stocks, but were up 1.8 percent on
month.
"SIBOR spiked up late, suggesting a liquidity crunch.
Moreover, the MAS has stepped forward to warn of excessive
exuberance in the property market. These headlines have dragged
on sentiment and on the market” said Liu Jinshu, director of
research at NRA Capital in Singapore.
Malaysian stocks retreated 0.15 percent as losses in
consumer discretionary and financial stocks outweighed gains in
Sime Darby Bhd, which rose 27 percent, after the
company’s plantation and property units debuted on the exchange.
The index is down 1.7 percent for the month.
Thai shares fell 0.5 percent as economic data
suggested recovery in Southeast Asia's second-largest economy is
still patchy.
Financial markets in the Philippines were closed for a
public holiday.
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SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON THE DAY
Change on the day
Market Current Previous close Pct Move
Singapore 3433.54 3438.99 -0.16
Bangkok 1697.39 1705.33 -0.47
Jakarta 5952.138 6061.367 -1.80
Kuala Lumpur 1717.86 1720.38 -0.15
Ho Chi Minh 949.93 952.14 -0.23
Change so far this year
Market Current End 2016 Pct Move
Singapore 3433.54 2880.76 19.19
Bangkok 1697.39 1542.94 10.01
Manila 8254.03 6840.64 20.66
Jakarta 5952.138 5296.711 12.37
Kuala Lumpur 1717.86 1641.73 4.64
Ho Chi Minh 949.93 664.87 42.87
(Reporting by Nikhil Kurian Nainan; Editing by Vyas Mohan)