SE Asia Stocks-Down on Cyprus bailout worries; Thailand off 19-year high
March 18 (Reuters) - Southeast Asian stocks ended weaker on Monday, following Asian peers as nervous investors shifted to safer heavens after a radical bailout plan for Cyprus dented the appetite for risky assets globally. Cyprus and international lenders agreed at the weekend that savers in the island's outsized banking system would take a hit in return for the offer of $13.07 billion in aid, breaking with the earlier European Union practice that depositors' savings were sacrosanct and raising fears it could set a precedent for future euro zone bail outs. The Philippine lost 1.8 percent to a near five-week low of 6,536.18 with a 4.3 percent loss in SM Investment Corp . Thailand fell 0.4 percent to 1,591.65 from a 19-year high of 1,598.13 hit in the previous session, led by a 2 percent fall in PTT Global Chemical Pcl (PTTGC). Malaysia, the region's worst performer so far this year, fell 0.4 percent to a near four-week low of 1,621.36. Kuala Lumpur has seen the highest foreign inflow in the region, data showed on Monday. Indonesia, the region's best performer in terms of foreign inflows, fell 0.3 percent to 4,802.83. Jakarta-based analysts said concerns over the Cyprus bailout and a weak regional market, along with high domestic inflation dragged the market down. Vietnam, the region's best performer and the smallest bourse, edged down 0.5 percent, while Singapore fell 0.9 percent to a near two-week low. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 441.02 445.06 -0.91 Singapore 3256.47 3286.05 -0.90 Kuala Lumpur 1621.36 1627.64 -0.39 Bangkok 1591.65 1598.13 -0.41 Jakarta 4802.83 4819.32 -0.34 Manila 6536.18 6654.60 -1.78 Ho Chi Minh 479.13 481.35 -0.46 Change on year Market Current End prev yr Pct Move TR SE Asia Index* 441.02 424.10 +3.99 Singapore 3256.47 3167.08 +2.82 Kuala Lumpur 1621.36 1688.95 -4.00 Bangkok 1591.65 1391.93 +14.35 Jakarta 4802.83 4316.69 +11.26 Manila 6536.18 5812.73 +12.45 Ho Chi Minh 479.13 413.73 +15.81 * The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
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