BANGKOK: Indonesia's key stock market index posted its worst drop in two months on Wednesday amid outflows and losses in large-caps as the prospect of a sooner-than-expected U.S. rate hike triggered selling across markets in Southeast Asia.
Jakarta's Composite Index closed down 1.04 percent
the biggest one-day fall since July 11. Shares of Astra
International, the most actively traded stock, slipped
2.3 percent due to selling by foreign investors, Thomson Reuters
data showed.
The Indonesian stock market saw net selling by foreign
investors of 816 billion rupiah ($69.11 million), Thomson
Reuters data showed.
Other markets also posted net foreign outflows as Asian
shares tumbled on Wednesday, with MSCI's broadest index of
Asia-Pacific shares outside Japan down 1.3
percent.
Investors expect the U.S. Federal Reserve to keep interest
rates lower for longer, and to raise them more slowly than the
makers of U.S monetary policy themselves expect, according to
research published Monday by the San Francisco Fed.
Malaysia posted net foreign outflow worth 94.62
million ringgit ($29.57 million) and Thailand reported a
net outflow of 224 million baht ($6.96 million).
SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
Singapore 3338.63 3342.96 -0.13
Kuala Lumpur 1870.85 1874.12 -0.17
Bangkok 1582.13 1583.18 -0.07
Jakarta 5142.99 5197.12 -1.04
Manila 7212.78 7253.67 -0.56
Ho Chi Minh 628.80 626.92 +0.30
Change on year
Market Current End 2013 Pct Move
Singapore 3338.63 3167.43 +5.41
Kuala Lumpur 1870.85 1866.96 +0.21
Bangkok 1582.13 1298.71 +21.82
Jakarta 5142.99 4274.18 +20.33
Manila 7212.78 5889.83 +22.46
Ho Chi Minh 628.80 504.63 +24.61
(1 US dollar = 11,807.0000 rupiah)
(1 US dollar = 3.2000 Malaysian ringgit)
(1 US dollar = 32.1800 Thai baht)- Reuters
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
