SE Asia Stocks -Malaysia, Singapore lead regional decline

Fri Aug 8, 2014 4:37am EDT

BANGKOK, Aug 8 (Reuters) - Southeast Asian stock markets
fell on Friday as investors cut risk holdings amid continued
conflicts in Ukraine and the Middle East, with shares in
Malaysia and Singapore nursing their worst weekly losses since
March.
    Shares of Malaysia-listed Public Bank dropped
almost 4 percent in active selling, as they traded ex-dividend.
The broader market was down 1.5 percent, heading for a
weekly drop of 1.3 percent.
    Singapore's Straits Times Index lost almost 1
percent on the day, sliding 1.7 percent so far on the week.
Shares of large caps such as DBS Group Holdings and
Singapore Telecommunications led the losers.
    Asian shares tumbled, with MSCI's broadest index of
Asia-Pacific shares outside Japan off 0.97
percent.
    Most emerging Asian currencies also fell as U.S. President
Barack Obama's authorisation of air strikes in Iraq further
dampened risk sentiment. 
    In Bangkok, formation of an interim government, expected
later in August, was a key market focus. 
    "We expect more positive news from the local side, i.e. the
setting up of a new interim government," broker KGI Securities
said in a report.
    Rising risk aversion and a long weekend kept most investors
in Bangkok on the defensive, traders said. The Thai stock market
will remain closed on Monday and Tuesday for a public holiday.
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0812 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   434.19        436.93       -0.63
 Singapore          3283.39       3314.22       -0.93
 Kuala Lumpur       1840.51       1867.32       -1.44
 Bangkok            1517.96       1522.27       -0.28
 Jakarta            5056.41       5066.98       -0.21
 Manila             6880.34       6955.21       -1.08
 Ho Chi Minh         605.43        607.62       -0.36
 * The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.    

 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)
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