SE Asia Stocks-Most start Q3 on weak note, property stocks lead Singapore fall

Tue Jul 1, 2014 1:16am EDT

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BANGKOK, July 1 (Reuters) - Southeast Asian stock markets
were broadly weaker on Tuesday, with shares of Singapore's
property firms easing on weak industry data while Indonesian
stocks retreated from a near two-week high on Monday after June
inflation data.
    Losses in Singapore were led by shares of Hongkong Land
Holdings, which dropped as much as 3.2 percent to the
lowest in almost three months, the worst performers on the
market while shares of CapitaLand shed nearly 1
percent.
    Data released early on Tuesday showed prices of Singapore's
non-landed private residential properties in all market segments
fell in the second quarter of 2014, marking the third straight
quarterly decline. 
    The benchmark Straits Times Index was down 0.4
percent, at its lowest since May 12.
    In Jakarta, investors cashed in on recent gains in banking
shares such as Bank Rakyat Indonesia and Bank Central
Asia, sending Indonesia's key index 0.2
percent lower.
    The annual inflation rate in Indonesia eased in June and was
near analysts' forecasts, data from the statistics bureau showed
on Tuesday. 
    Some foreign investors have slightly trimmed their positions
to "neutral" ahead of the July presidential election, Broker
Danaresksa said, citing a recent overseas marketing trip.
 
    "As most investors prefer to wait until the release of the
election quick count on 10 July, before deciding their next
move, market liquidity will continue to remain dry," it said in
a report.
    Jakarta's composite index ended the second quarter at a near
two-week high of 4,878.58. The market saw foreign inflows worth
a net 2.8 trillion rupiah ($237 million) in June, the weakest
monthly inflows in 2014, Thomson Reuters data showed.
 
    Stocks in the Philippines and Malaysia were
range-bound as Asian shares were firm near a three-year high on
upbeat Chinese manufacturing data and expectations that U.S.
monetary policy will stay loose for some time. 
    The Thai stock market is closed for a market holiday and
will reopen on Wednesday. 
       
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0427 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   427.57        427.71       -0.03
 Singapore          3241.57       3255.67       -0.43
 Kuala Lumpur       1877.14       1882.71       -0.30
 Bangkok               --         1485.75         -- 
 Jakarta            4869.41       4878.58       -0.19
 Manila             6843.42       6844.31       -0.01
 Ho Chi Minh         480.49        578.13       +0.41
 * The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.    
($1 = 11815.0000 Rupiahs)

 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)
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