Malaysia, S'pore lead Southeast Asian market decline on Greek debt fears, ringgit at 10-yr low

BANGKOK: Major Southeast Asian stock markets fell on Monday as fears of a Greek debt default prompted foreign outflows, sending the Malaysian index to an over-six-month low while the Indonesian benchmark fell to a near-two-week low.
    Kuala Lumpur's composite index was down 1.1 percent
at 1,691.92, the lowest close since Dec. 17, with 25 out of 30
stocks listed on the index sliding. Selling also hit the ringgit
 which traded at a 10-year low. 
    Singapore's key Straits Times Index shed 1.2
percent to 3,280.18, the lowest close since Dec. 19.
    Jakarta's composite index was down 0.8 percent at
4,882.58, the lowest close since June 16, taking its
year-to-date loss to 6.7 percent, Asia's worst performing index,
followed by Malaysia's 3.9 percent decline, the second worst.
    Foreign investors sold Indonesian shares worth a net 394
billion rupiah ($29.54 million) and offloaded Malaysian shares
worth a net 105 million ringgit ($27.76 million), stock exchange
and Thomson Reuters data showed. 
    Indexes in Thailand and the Philippines 
recouped most of their early losses. Vietnam jumped 1.72
percent amid gains in most big-caps. 
    Manila-based Regina Capital expected stock market volatility
in the Philippines to continue in the near term.
    "This is mostly psychological but market volatility should
remain since the initial reaction of fund managers is to shift
to safe havens," said analyst Jason Bibit.
    European shares sank almost 4 percent and government bond
yields in Italy, Spain and Portugal jumped on Monday as
investors priced in a growing risk that Greece will be the first
country to leave the euro. 
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          3280.18       3320.90       -1.23
 Kuala Lumpur       1691.92       1710.47       -1.08
 Bangkok            1511.19       1518.03       -0.45
 Jakarta            4882.58       4923.01       -0.82
 Manila             7567.38       7622.05       -0.72
 Ho Chi Minh         591.75        581.75       +1.72
 
 Change on year
 Market             Current       End 2014    Pct Move
 Singapore          3280.18       3365.15       -2.52
 Kuala Lumpur       1691.92       1761.25       -3.94
 Bangkok            1511.19       1497.67       +0.90
 Jakarta            4882.58       5226.95       -6.59
 Manila             7567.38       7230.57       +4.66
 Ho Chi Minh         591.75        545.63       +8.45
 ($1 = 13,340.0000 rupiah)
($1 = 3.7825 ringgit)
- Reuters