BANGKOK: All Southeast Asian stocks plunged on Monday, with foreign investors shedding exposure to risky assets, as emerging markets remained under pressure on concerns over U.S. Federal Reserve further tapering its stimulus and fears of a slowdown in China.
Indonesia's Jakarta Composite Index fell 2.6 percent
to its lowest level since Jan. 10, led by financial stocks.
Foreign investors cut their exposure in the region's risky
assets on Monday. Jakarta saw a net foreign outflow of $79.93
million, while Malaysia suffered net foreign selling of $100.96
million. Thailand and the Philippines witnessed foreign outflows
of $102.19 million and $33.99 million, respectively.
"The Fed tapering policy and China's slowing growth caused
investors to lose confidence in emerging markets, especially in
Indonesia," said John Teja, director of Jakarta-based broker
Ciptadana Securities.
Fed officials are seen cutting bond-buying by another $10
billion at their regular two-day policy meeting beginning on
Tuesday, while investors continued to fret about the impact of
tightening credit conditions in China as Beijing seeks to curb
growth in high-risk lending.,
Malaysian shares fell 1.3 percent to a 3-1/2-month
low, Philippine shares plummeted 1.8 percent to a near
one-week low, and Vietnam index, the best performer in
the region so far this year, closed 0.7 percent weaker on
profit-booking in some blue chips.
Singapore share index declined 1.1 percent to a
near five-month low.
Thailand index fell 2 percent to a near two-week
low, led by energy and banks amid lingering political concerns a
day after one of the leaders of anti-government protests in
Bangkok was shot dead when violence erupted as demonstrators
tried to block early voting for an election next week.
Nomura in a research report said the current political
tensions in Thailand will only slow, but not derail, the
long-term development of the economy.
SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
TR SE Asia Index* 377.09 383.47 -1.66
Singapore 3042.43 3075.99 -1.09
Kuala Lumpur 1778.88 1802.57 -1.31
Bangkok 1288.59 1314.63 -1.98
Jakarta 4322.78 4437.34 -2.58
Manila 6081.61 6191.50 -1.77
Ho Chi Minh 556.52 560.19 -0.66
Change on year
Market Current End 2013 Pct Move
TR SE Asia Index* 377.09 388.37 -2.90
Singapore 3042.43 3167.43 -3.95
Kuala Lumpur 1778.88 1866.96 -4.72
Bangkok 1288.59 1298.71 -0.78
Jakarta 4322.78 4274.18 +1.14
Manila 6081.61 5889.83 +3.26
Ho Chi Minh 556.52 504.63 +10.28
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
Stock Market Volume (shares)
Market Current Volume Average Volume 30 days
Singapore 288,339,800 169,562,273
Kuala Lumpur 221,453,700 110,767,767
Bangkok 3,990,602 4,824,418
Jakarta 2,695,456,900 2,896,653,440
Manila 107,375 69,840
Ho Chi Minh 67,552 87,807- Reuters
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