October 24, 2018 / 10:20 AM / 24 days ago

SE Asia Stocks-Most fall; Thailand plunges in 5th straight losing session

    * Thai stocks hit more than three-month closing low 
    * Malaysia, Vietnam post 5th straight session of losses

    By Rashmi Ashok
    Oct 24 (Reuters) - Most Southeast Asian stock markets
extended their decline on Wednesday, with Thai shares plunging
to a three-month low as they played catch-up with regional peers
after a holiday and as the energy sector took a hit from a slump
in oil prices.
    Thai shares closed 2.1 percent lower, marking their
lowest close in more than three months, as oil and gas refiner
PTT Public Co Ltd shed 3.5 percent and PTT Exploration
and Production PCL gave up 7.6 percent.
    Oil fell to its lowest since late August on Wednesday,
pressured by worries that demand is weakening and supply ample
even as U.S. sanctions loom on oil exporter Iran.
    "Aside from fears over the trade war's effects on GDP and
growth, the oil prices also have a large impact on our energy
sector. The negative trend in energy stocks can continue if
global prices remain affected," said Teerada Charnyingyong, an
analyst with Phillip capital Thailand.
    Markets in Thailand were closed for a local holiday on
Tuesday when the rest of Southeast Asia marked losses across the
board.
    Indonesian stocks closed 1.5 percent lower, as
sector heavyweight PT Telekomunikasi Indonesia Tbk
shed 4.9 percent and wireless telecom provider PT XL Axiata Tbk
 lost 2.1 percent.
    Vietnamese shares posted their fifth straight session
of losses, closing 1.8 percent lower. Petrovietnam Gas Joint
Stock Corp lost 7 percent and food processor Masan
Group Corp shed 3.2 percent. The index has notched
losses of over 3.7 percent this week.
    Philippine stocks slipped nearly 1 percent, as
financial and real-estate stocks weighed on the index. 
Investment company Ayala Corp lost 0.8 percent and
lender BDO Unibank Inc fell 0.7 percent.
    Malaysian shares erased gains in early trade to
close 0.5 percent lower, posting their fifth consecutive day of
losses. Telecom operator Axiata Group Berhad shed 2.5
percent and lender CIMB Group Holdings Berhad lost 0.9
percent.

    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                            
 Market             Current   Previous close  Pct Move
 Singapore          3032.08   3031.39         0.02
 Bangkok            1623.37   1658.56         -2.12
 Manila             7129.42   7197.62         -0.95
 Jakarta            5709.417  5797.891        -1.53
 Kuala Lumpur       1690.04   1697.6          -0.45
 Ho Chi Minh        922.73    939.68          -1.80
                                              
 Change on year                               
 Market             Current   End prev yr     Pct Move
 Singapore          3032.08   3402.92         -10.90
 Bangkok            1623.37   1753.71         -7.43
 Manila             7129.42   8,558.42        -16.70
 Jakarta            5709.417  6,355.65        -10.17
 Kuala Lumpur       1690.04   1796.81         -5.94
 Ho Chi Minh        922.73    984.24          -6.25
 
 (Reporting by Rashmi Ashok in Bengaluru; Editing by Amrutha
Gayathri)
  
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