August 27, 2013 / 11:24 AM / 4 years ago

SE Asia Stocks-More in bear market grip

BANGKOK, Aug 27 (Reuters) - Stocks in Indonesia, the
Philippines and Thailand extended their slides on Tuesday as
concern about possible U.S.-led intervention in Syria dented
global sentiment and further losses in currencies spurred a
fresh round of selling.
    Sell-offs accelerated in late trade, sending Jakarta's
Composite Index 3.7 percent lower to 3,967.84, the
lowest since June 29, 2012 and extending losses for a fourth
session. The index has lost 8.1 percent year-to-date, making it
Asia's worst performer.
    The Philippine index dropped 4 percent, the top loser
on the day, erasing most its gains this year. The Thai SET index
 slid 2.7 percent to a nine-month closing low of
1,293.97, losing 7 percent on the year.
    Indonesia, Thailand and the Philippines each saw a drop of
around 20 percent from their highs in May, taking them into the
bear market territory.
    A weakness in Thai baht against the dollar
suggested further market loss, said Bangkok-based Prapas
Tonpibulsak, the chief investment officer at Krungsri Asset
Management.  
    "Foreign outflows are likely to continue in the coming
one-two months... gains in terms of FX may not be that
compelling and could put funds under pressure," he said.
     
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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   374.65        385.73       -2.87
 Singapore          3034.02       3084.41       -1.63
 Kuala Lumpur       1701.24       1722.49       -1.23
 Bangkok            1293.97       1329.18       -2.65
 Jakarta            3967.84       4120.67       -3.71
 Manila             5916.99       6161.21       -3.96
 Ho Chi Minh         485.57        490.54       -1.01
 
 Change on year
 Market             Current     End prev yr    Pct Move
 TR SE Asia Index*   374.65        424.10      -11.66
 Singapore          3034.02       3167.08       -4.20
 Kuala Lumpur       1701.24       1688.95       +0.73
 Bangkok            1293.97       1391.93       -7.04
 Jakarta            3967.84       4316.69       -8.08
 Manila             5916.99       5812.73       +1.79
 Ho Chi Minh         485.57        413.73      +17.36
 
* The Thomson Reuters South East Asia Index               is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
    
 Stock Market Volume (shares)
 Market          Current Volume    Average Volume 30 days
 Singapore         370,900,500          272,313,503      
 Kuala Lumpur      212,276,600          155,950,503      
 
 Bangkok            11,490,425            9,442,242      
 Jakarta         4,156,997,000        3,380,141,867    
 Manila                111,286               81,463    
 Ho Chi Minh            27,832               44,100

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