BANGKOK: Thai stocks fell for a second straight session on Monday as foreign investors shed exposure to risky assets after violence over the weekend hit sentiment, while other South-East Asian markets closed mixed amid concerns about a slowdown in the Chinese economy.
Shares in Singapore and Malaysia closed 0.6% and 0.3%t lower respectively with Kuala Lumpur witnessing a foreign outflow of US$88.08mil as expectation of a sluggish growth in China dented investor appetite for risky assets.
The Thai SET index ended 0.4%, led by information technology and banking shares, while the baht
also slid due to political tension. Foreign investors sold a net $46.47mil worth of shares on Monday, extending the offshore outflow to US$165.9mil in the last five straight sessions.
Analysts expect foreign outflows to continue with Thai authorities "very seriously" considering a state of emergency after the weekend violence where protesters have been trying for more than two months to bring down the government.
China's economy grew 7.7% in 2013 after easing in the final three months on sagging investment growth, while analysts expect a cool-down this year as the government wrestles to implement major reforms.
Bucking the trend, the Vietnam stock index, the region's best performer this year, outperformed the region with a 1.9% rise, while the Jakarta Composite Index and the Philippines ended 0.4% and 0.3%
SOUTH-EAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
TR SE Asia Index* 383.88 385.42 -0.04
Singapore 3128.79 3147.33 -0.59
Kuala Lumpur 1807.59 1813.01 -0.30
Bangkok 1289.99 1295.41 -0.42
Jakarta 4431.57 4412.23 +0.44
Manila 6005.60 5987.09 +0.31
Ho Chi Minh 553.67 543.59 +1.85
Change on year
Market Current End 2013 Pct Move
TR SE Asia Index* 383.88 388.37 -1.16
Singapore 3128.79 3167.43 -1.22
Kuala Lumpur 1807.59 1866.96 -3.18
Bangkok 1289.99 1298.71 -0.67
Jakarta 4431.57 4274.18 +3.68
Manila 6005.60 5889.83 +1.97
Ho Chi Minh 553.67 504.63 +9.72
* 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 109,883,200 179,193,497
Kuala Lumpur 139,544,600 106,408,950
Bangkok 5,758,106 4,974,442
Jakarta 3,712,257,840 2,939,235,047
Manila 35,727 66,477
Ho Chi Minh 105,722 86,206