BANGKOK: Most Southeast Asian stock markets fell more than 1 percent on Monday as selloffs in China and Asian shares prompted investors to cut risk holdings, with the Thai benchmark hitting a near 14-month low after June exports tumbled more than expected.
The Thai SET index fell 1.8 percent to 1,412.55, its lowest close since May 29, 2014, led down by a 1.6 percent drop in shares of mobile phone firm Advanced Info Service , the most actively traded.
Data released by the Commerce Ministry showed the June exports fall was the biggest drop since late 2011, indicating the country's weaker currency is not yet helping fire up the
country's traditional long-stalled growth engine.
Jakarta's composite index ended the day down 1.8 percent at the lowest close since April 2014, while the Philippines snapped a four-day rising streak, retreating 1.5 percent.
Singapore fell for a fifth day to a two-week closing low and Malaysia posted a fourth straight day of losses.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.7 percent amid worries over China and investors braced for a Federal Reserve meeting that might take another small step toward lifting U.S. interest rates.
SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
Singapore 3313.42 3352.65 -1.17
Kuala Lumpur 1709.76 1720.76 -0.64
Bangkok 1412.55 1438.08 -1.78
Jakarta 4771.28 4856.59 -1.76
Manila 7547.44 7665.52 -1.54
Ho Chi Minh 635.46 631.26 +0.67
Change on year
Market Current End 2014 Pct Move
Singapore 3313.42 3365.15 -1.54
Kuala Lumpur 1709.76 1761.25 -2.92
Bangkok 1412.55 1497.67 -5.68
Jakarta 4771.28 5226.95 -8.72
Manila 7547.44 7230.57 +4.38
Ho Chi Minh 635.46 545.63 +16.46
- Reuters
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
