August 26, 2011 / 10:00 AM / 8 years ago

SE Asia Stocks-Most fall amid outflows ahead of holidays

 * Light volume ahead of long holidays next week
 * Region cautious of global economy spillover
 * Thai big cap dividends lure some buyers
 By Viparat Jantraprap	
 BANGKOK, Aug 26 (Reuters) - Most Southeast Asian stock
markets fell in light volume on Friday as investors cut exposure
to risky assets, causing a drop in blue-chip shares and a rise
in outflows of global capital.	
 Volume was thin ahead of long holidays next week and as
investors waited for a speech by Federal Reserve Chairman Ben
Bernanke around 1400 GMT. 	
 Ratings agency Standard & Poor's said the outlook for Asian
sovereign credit was stable but was showing some downside risks.
It said countries with a higher share of exports to Western
nations, such as Singapore, would be hurt if the United States
or European economies continued to slow. 	
 Singapore shares slid 0.6 percent on Friday, with
rig builder Sembcorp Marine off 2.37 percent as
worries over an economic recession continued to weigh on the
outlook for oil-rig demand.	
 The city-state's bourse has lost nearly 14 percent this
year, Southeast Asia's second worst, trailing Vietnam's 
16.6 percent drop.	
 Worst-hit on Friday was Malaysia , which fell 1.4
percent to its lowest in more than two weeks. Investors turned
cautious amid weaker-than-expected second-quarter results.	
 "Malaysia has actually outperformed since early August when
the market peaked," said regional strategist Chang Chiou Yi of
CIMB Securities. "Given the more gloomy global outlook, big
banking names have also guided for conservative figures and
there have been some downgrades on the street -- thus the
underperformance," she said.	
 Stocks in Indonesia regained most of their early
losses to end nearly flat. Turnover in Jakarta plunged to 0.4
times its 30-day average, the region's lowest, ahead of market
holidays next week. Indonesia resumes trading on Sept 5.	
 Malaysia's stock market traded a half day on Monday before
market holidays and will reopen on Friday. The Philippines was
shut on Monday and Tuesday. Singapore is shut on Tuesday.	
 By 0926 GMT, Thai stocks edged up 0.8 percent,
recouping a 1.25 percent loss to a two-month low, as dividend
announcements by blue chips lured some buyers, led by a 2.6
percent rise in PTT and a 2.03 percent climb in Bangkok
Bank .	
 Investor flows tended to favour companies with exposure to
domestic consumption such as banks and property stocks. Among
rebounding shares, Bank Rakyat Indonesia , the world's
biggest micro lender, was up 0.8 percent.	
 On the week, Thailand's 3.4 percent drop was Asia's worst,
ahead of second-worst Malaysia's 2.6 percent loss.	
 The Thai market suffered $1.25 billion in outflows this
month to Thursday, erasing $1.26 billion of inflows in July when
foreign investors rebuilt Thai stock positions following the
July 3 general election.	
 Outflows from Indonesia rose to $990 million this month to
Friday, erasing the $608 million of inflows in July, while the
Philippines saw $2.8 million in outflows on Friday, reducing
their inflows this month to $31 million, according to Thomson
Reuters data. 	
 Among weak spots, shares in Malaysian oilfield services
provider Bumi Armada fell 7.1 percent in early trade
on Friday after the company posted a drop in quarterly profits. 	
 (Additional reporting by Singapore bureau and Andjarsari
Paramaditha in Jakarta)    	
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 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          2748.18       2765.74       -0.63
 Kuala Lumpur       1444.81       1464.74       -1.36
 Bangkok            1033.26       1025.00       +0.81 
 (by 0926 GMT)
 Jakarta            3841.73       3844.38       -0.07
 Manila             4305.56       4342.69       -0.85
 Hanoi               404.41        401.65       +0.69
 Change on year
 Market             Current     End prev yr    Pct Move
 Singapore          2748.18       3190.04      -13.85
 Kuala Lumpur       1444.81       1518.91       -4.88
 Bangkok            1033.26       1032.76       +0.05  
 (by 0926 GMT)
 Jakarta            3841.73       3703.51       +3.73
 Manila             4305.56       4201.14       +2.49
 Hanoi               404.41        484.66      -16.56
 Stock Market Volume (shares)
 Market          Current Volume    Average Volume 30 days
 Singapore         323,950,400          443,756,260       
 Kuala Lumpur      249,168,500          165,239,967        
 Bangkok             4,182,181            5,219,072    
 (by 0926 GMT)      
 Jakarta         2,390,851,500        5,675,538,250    
 Manila                951,103              661,491    
 Hanoi                  29,423               27,105
0 : 0
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