Southeast asia stocks: S'pore posts worst drop since Jan; all eyes on Fed


  • Business
  • Wednesday, 17 Sep 2014

BANGKOK: Southeast Asian stock markets mostly fell on Tuesday as investors awaited a Federal Reserve meeting for clues on U.S. monetary policy, with selling in large-caps pulling down the Singapore benchmark to its lowest close in more than two months.
    Singapore's Straits Times Index slid 1.2 percent,
the biggest daily loss since Jan. 3. It ended at 3,272.62, its
lowest close since July 10.
    All 30 stocks measured by the index were lower. Shares of
Singapore Telecommunications Ltd., the most actively
traded and the largest firm by market value, dropped 2.1
percent.
    The Thai SET index ended down 0.9 percent at its
lowest close in more than two weeks, with interest rate
sensitive stocks including banks and property shares
 slipping ahead of the central bank's policy meeting.
    The Bank of Thailand is expected to leave its main interest
rate steady at 2.0 percent on Wednesday, believing the current
level can help economic recovery without raising already-high
household debt. 
    Indonesia posted a net foreign outflow worth 522
billion rupiah ($43.65 million), the Philippines reported
a net foreign outflow worth 110.6 million peso ($2.50 million)
and Vietnam had net foreign outflows worth 268 billion dong
($12.66 million), Thomson Reuters and stock exchange data
showed.
    Investors awaited the outcome of the Fed's two-day policy
meeting which begins later on Tuesday. 
    Vietnam's VN Index lost 0.43 percent as investors
offloaded shares to reduce margin trading while two
exchange-traded funds (ETF) reviewed their portfolios.
 
    Malaysia was shut for a holiday, resuming trade on
Wednesday.
    
SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          3272.62       3312.47       -1.20
 Bangkok            1565.41       1579.12       -0.87
 Jakarta            5130.50       5144.89       -0.28
 Manila             7180.34       7161.27       +0.27
 Ho Chi Minh         627.66        630.34       -0.43
 
 Change on year
 Market             Current       End 2013    Pct Move
 Singapore          3272.62       3167.43       +3.32
 Kuala Lumpur          --         1866.96       -1.05
 Bangkok            1565.41       1298.71      +20.54
 Jakarta            5130.50       4274.18      +20.03
 Manila             7180.34       5889.83      +21.91
 Ho Chi Minh         627.66        504.63      +24.38
 (1 US dollar = 44.3100 Philippine peso)
(1 US dollar = 11,960.0000 rupiah)
(1 US dollar = 21,175.0000 Vietnam dong)- Reuters
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