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SE Asia Stocks-Fall on Greece debt worries; Malaysia near 1-week low
July 6, 2015 / 7:48 AM / 2 years ago

SE Asia Stocks-Fall on Greece debt worries; Malaysia near 1-week low

BANGKOK, July 6 (Reuters) - Most Southeast Asian stock
markets fell over 1 percent on Monday as worries over the Greek
debt crisis sparked selling across major sharemarkets, with the
Malaysian index sliding to a near one-week low amid graft
allegations linked to the Prime Minister.
    Selloffs in the region came in line with Asian stocks which
hit a six-month trough after a Greek vote to reject austerity
measures in their referendum on Sunday. 
    Brokers expected market volatility to continue in the near
term although they said the impact of Grexit would mostly be
seen indirectly. Fundamentally, Asian economies are not
materially exposed to Greece, Maybank Kim Eng analysts wrote in
a report.
    "Regional currencies and equity markets can be expected to
be volatile with weakness bias in the short-term, pending
clarity on the Greece crisis' end-game, mainly due to 'safe
haven' flows into major currencies and asset denominated in such
currencies," they wrote in a report.
    In Kuala Lumpur, the key index dropped 1.2 percent,
its lowest since June 30 as the ringgit hit a 16-year
low after reports linked the country's prime minister to probes
into alleged corruption.  
    Singapore's benchmark Straits Times Index retreated
from a more than one-week closing high on Friday while the
Jakarta composite index reversed from the previous
session's two-week closing high.
    Indexes in Thailand and the Philippines 
extended losses from Friday. Vietnam bucked the trend,
rising for a third straight day. 
    Energy related shares were top losers on MSCI's index of
Southeast Asia as oil prices fell sharply in
part after Greece rejected bailout terms. 
    Thai refiner IRPC dropped about 5 percent, the
worst performer on the index, and Indonesia's mining firm United
Tractors was down 4.8 percent, the second worst
performer on the index. 
For Asian Companies click;  

 Change at 0726 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3320.26       3342.73       -0.67
 Kuala Lumpur       1713.89       1734.24       -1.17
 Bangkok            1473.20       1489.59       -1.10
 Jakarta            4922.86       4982.91       -1.20
 Manila             7455.15       7535.30       -1.06
 Ho Chi Minh         625.04        616.43       +1.40
 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)

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