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.
For Asian Companies click;
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
Already a subscriber? Log in.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!