BANGKOK: Malaysia's key stock index hit a fresh 15-month closing low on Thursday as the ringgit extended losses while foreign selling continued on concerns lower oil prices would hurt economic fundamentals in the oil exporting country.
Other markets in the region mostly ended in positive
territory amid increased speculation over monetary stimulus by
the European Central Bank.
Kuala Lumpur's composite index fell 0.7 percent to
1,745.69, its lowest close since September 2013. Tenaga Nasional
Bhd, the country's biggest electric utility, was the
top loser on the index, down 4.9 percent.
The Malaysian ringgit fell to 3.4475 per dollar,
its weakest since February 2010.
Foreign investors were net sellers of shares worth 172
million ringgit ($49.93 million), a seventh straight session of
net sales, according to a statement from the Malaysian bourse.
Stocks in Singapore, Indonesia and Thailand
closed moderately higher while Vietnam climbed
0.6 percent led by banking shares.
The Thai stock market will be closed on Friday for a public
holiday and will reopen on Monday.
Among weak spots, the Philippine main index fell 0.8
percent, with shares of Aboitiz Equity Ventures Inc
down 3.4 percent, the second worst performer on the index.
Aboitiz will spend $680 million to increase the capacity of
two of its coal-fired power plants, and is also looking to
invest in power generation in Indonesia.
SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
Singapore 3304.82 3303.39 +0.04
Kuala Lumpur 1745.69 1758.15 -0.71
Bangkok 1597.76 1594.58 +0.20
Jakarta 5177.16 5166.04 +0.22
Manila 7299.85 7360.75 -0.83
Ho Chi Minh 578.38 574.88 +0.61
Change on year
Market Current End 2013 Pct Move
Singapore 3304.82 3167.43 +4.34
Kuala Lumpur 1745.69 1866.96 -6.50
Bangkok 1597.76 1298.71 +23.03
Jakarta 5177.16 4274.18 +21.13
Manila 7299.85 5889.83 +23.94
Ho Chi Minh 578.38 504.63 +14.61
(1 US dollar = 3.4450 Malaysian ringgit)- Reuters
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