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SE Asia Stocks -Malaysian index near 2-week low; Tenaga shares lead decline
February 12, 2015 / 8:27 AM / 3 years ago

SE Asia Stocks -Malaysian index near 2-week low; Tenaga shares lead decline

BANGKOK, Feb 12 (Reuters) - Most Southeast Asian stock
markets fell on Thursday, with the Singapore benchmark
retreating from a more than 20-month high hit in the previous
session, while Malaysian power group Tenaga Nasional Bhd
 extended losses amid tariff reduction concerns.
    The Kuala Lumpur composite index traded down 0.7
percent, its lowest since Jan. 30. Large cap Tenaga was down 5.1
percent, the worst performer on the index and the most
actively-traded stock by turnover.
    The stock closed down 3 percent on Wednesday after the
government said it cut electricity tariff in Peninsular Malaysia
and the Borneo state of Sabah following declines in prices of
feedstock and crude oil. 
    Data issued by Malaysia's central bank showed the country's
economy grew a faster-than-expected 5.8 percent in the fourth
quarter from a year earlier even as falling oil prices and
sluggish global demand hit exports. 
    Asian stocks and the euro fell on Thursday as markets erred
on the side of caution over the ongoing Greek debt negotiations
amid conflicting headlines on progress in the talks. 
    Singapore's Straits Times Index lost almost 1
percent. Jakarta composite index was a tad lower and the
Thai SET index eased 0.4 percent, trimming some
Wednesday's gain.
    Broker Phillip Securities expected the Thai market to move
rangebound between 1,595 and 1,615 on the day. The index traded
at 1,599.05.
    "The Greece factor would remain a nagging headwind for the
market in the near term," the broker said.
    Among outperformers, the Philippine index rose 0.4
    The Philippine central bank said after market close it kept
its benchmark interest rate steady at 4.0 percent on Thursday,
as expected, as it forecast inflation to remain within its
comfort range this year and next. 
    Vietnam's benchmark VN Index edged up 0.4 percent,
with property firm HAGL attracting funds following a
plan to establish a venture with a Singaporean company.
For Asian Companies click;  
For South East Asia Hot Stock reports, click;

 Change at 0738 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3413.63       3444.57       -0.90
 Kuala Lumpur       1786.03       1798.95       -0.72
 Bangkok            1599.05       1605.11       -0.38
 Jakarta            5332.70       5336.52       -0.07
 Manila             7714.59       7686.43       +0.37
 Ho Chi Minh         584.04        581.76       +0.39
 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)

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