June 24, 2013 / 10:47 AM / in 4 years

SE Asia Stocks-Decline on China worries, outflows

June 24 (Reuters) - Most Southeast Asian stocks fell to
multi-month lows on Monday with fears of a tighter monetary
policy in China adding to concerns of investors, who have been
exiting the region since the U.S. Federal Reserve said it would
scale back its stimulus.
    The Philippines' main index fell 3.4 percent to a
near six-month low, the Thai SET index lost 2.6 percent,
its lowest close since Dec. 18, and Jakarta's Composite Index
 closed 1.9 percent weaker to a near five-month low. 
    Fears over policy tightening by China hit sentiment after a
warning from the People's Bank of China that local banks needed
to do a better job of managing their cash and lending.
    Foreign investors sold a net $1.95 billion in shares in
Jakarta and $1.46 billion in Thailand in the first three weeks
of June ended on Friday, Thomson Reuters and bourse data showed.
    Kuala Lumpur and Manila witnessed foreign outflows of $971
million and $338 million in the same period. 
    Singapore's Straits Times Index fell 1.6 percent to
a more than six-month low, led by a 3.1 percent fall in palm oil
firm Wilmar International Ltd which has a large
exposure to China via its oilseeds crushing and consumer pack
    Malaysian shares dropped 1 percent to their lowest
since May 3, with foreign outflows at $117.94 million on Monday.
Jakarta's broader stock index also fell 1.9 percent to a
five-month closing low with foreign outflows of $68.6 million. 
    Vietnam, the region's smallest bourse, lost 1.8
percent to a five-week low on foreign selling in blue chips. 
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 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   406.30        415.90       -2.31
 Singapore          3074.31       3124.45       -1.60  
 Kuala Lumpur       1738.19       1755.85       -1.01
 Bangkok            1364.09       1400.50       -2.60
 Jakarta            4429.46       4515.37       -1.90
 Manila             5971.05       6182.17       -3.41
 Ho Chi Minh         489.74        498.84       -1.82
 Change on year
 Market             Current     End prev yr    Pct Move
 TR SE Asia Index*   406.30        424.10       -4.20
 Singapore          3074.71       3167.08       -2.93
 Kuala Lumpur       1738.19       1688.95       +2.92
 Bangkok            1364.09       1391.93       -2.00
 Jakarta            4429.46       4316.69       +2.61
 Manila             5971.05       5812.73       +2.72
 Ho Chi Minh         489.74        413.73      +18.37
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.

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