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SE Asia Stocks -Fall after Paris attacks; Philippine shares near 3-mth low
November 16, 2015 / 5:12 AM / 2 years ago

SE Asia Stocks -Fall after Paris attacks; Philippine shares near 3-mth low

BANGKOK, Nov 16 (Reuters) - Southeast Asian stock markets
fell on Monday as weakness in global markets after Friday's
attacks in Paris prompted early sell-offs across exchanges,
sending the Philippine index to a near three-month low and the
Indonesian benchmark to the lowest in more than a month.
    The Philippine composite index dropped 2.5 percent to
the lowest since Aug. 25, with the 30 stocks measured by the
gauge all down. Among the top losers, Energy Development Corp
 and SM Prime Holdings Inc both shed about
five percent.
    The Jakarta composite index declined about 1 percent
to the lowest since Oct. 6, led lower by shares of Astra
International and Bank Mandiri amid selling
led by foreign investors, Thomson Reuters data showed.
    In Bangkok, the key SET index eased 0.5 percent,
recovering some early losses. Domestic funds appeared to be
collecting battered stocks, brokers said.
    "External pressure may lead Thai stocks to trade on the
downside today," said broker Phillip Securities, forecasting
support for the SET index at 1,360.
    "But we believe any market dips could possibly trigger
long-term equity fund and retirement mutual fund purchases to
take advantage of personal income tax deductions by year end,"
it said.
    The Paris attacks also put downward pressure on shares
related to the tourism sector which expected to see potential
falls in foreign tourists, brokers said.
    Shares of hotelier Central Plaza Hotel Pcl were
down 1.2 percent and airline firm Thai Airways International
 down 0.5 percent.
    Data released early on Monday showed Thailand's economy
expanded 2.9 percent in the third quarter from a year earlier,
better than expected, with tourism revenues among key drivers.
    Indexes in Singapore and Malaysia both
slipped to lows hit in early October while Vietnam pulled
lower after two successive days of gains.
For Asian Companies click;  

 Change at 0434 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2897.18       2925.68       -0.97
 Kuala Lumpur       1657.50       1658.91       -0.08
 Bangkok            1376.16       1382.46       -0.46
 Jakarta            4430.50       4472.84       -0.95
 Manila             6726.11       6897.77       -2.49
 Ho Chi Minh         606.89        611.27       -0.72
 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)

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