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SE Asia Stocks-Largely down; Thailand falls over 2 pct
October 13, 2016 / 5:56 AM / a year ago

SE Asia Stocks-Largely down; Thailand falls over 2 pct

By Susan Mathew
    Oct 13 (Reuters) - Most Southeast Asian stock markets fell
on Thursday, tracking Asian peers after disappointing Chinese
trade data raised fresh concern about the world's second biggest
economy, while fears over a Fed rate hike in December added to
the subdued sentiment.
    Thai shares fell more than 2 percent, extending
losses into a fifth straight session on concerns over the health
of King Bhumibol Adulyadej.
    The palace said in a statement late on Wednesday that the
health of Thailand's 88-year-old king, the world's longest
reigning monarch, had "overall not yet stabilised".
    The statement followed one on Sunday when the palace said
the king was in an unstable condition after receiving
haemodialysis treatment. 
    Risk appetite waned in Asia, with MSCI's broadest index of
Asia-Pacific shares outside Japan easing 0.2
percent to its lowest since Sept. 21.
    "It is an amalgamation of uncertainty and unfavourable
market conditions right now. The markets are reacting to a very
gloomy sentiment," said Victor Felix, an analyst with AB Capital
Securities in Philippines.
    Official data showed China's September exports fell by a
sharper-than-expected 10 percent from a year earlier, while
imports unexpectedly shrank 1.9 percent after an encouraging
bump up in August, leaving the trade surplus at $41.99 billion
against a forecast of $53.0 billion. 
    Sentiment was also hit after minutes from a Fed meeting last
month indicated that it might raise interest rates if the U.S.
economy continued to strengthen, and after a report that the
Bank of Japan is likely to trim its inflation forecast for the
next fiscal year in a quarterly review. 
    Philippine shares declined over 1 percent to their
lowest in four months. Financial and energy stocks led the
losses with SM Prime Holdings Inc and Ayala Land
 shedding over 2 percent each.
    Singapore shares dropped to their lowest in three
months with industrials and oil & gas leading the fall.
For Asian Companies click;  
 Change at 0548 GMT                                 
 Market                   Current   Previous Close  Pct Move
 Singapore                2798.02   2813.71         -0.56
 Bangkok                  1376.35   1406.18         -2.12
 Manila                   7347.79   7429.82         -1.10
 Jakarta                  5356.031  5364.611        -0.16
 Kuala Lumpur             1662.01   1667.03         -0.30
 Ho Chi Minh              682.53    682.45          0.01
 Change so far                                      
 Market                   Current   End 2015        Pct Move
 Singapore                2798.02   2882.73         -2.94
 Bangkok                  1376.35   1288.02         6.86
 Manila                   7347.79   6952.08         5.69
 Jakarta                  5356.031  4593.008        16.61
 Kuala Lumpur             1662.01   1692.51         -1.80
 Ho Chi Minh              682.53    579.03          17.87
 (Reporting by Susan Mathew in Bengaluru; Editing by Subhranshu

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