July 11, 2014 / 11:00 AM / 4 years ago

SE Asia Stocks -Most fall; Jakarta index down on political uncertainty

July 11 (Reuters) - Indonesia's benchmark index fell on
Friday from a 13-month closing high hit in the previous session
as uncertainty over the outcome of the presidential election
held earlier this week prompted investors to sell risky assets.
    The Jakarta Composite Index ended 1.3 percent down
with financial firms leading the losses. Bank Rakyat Indonesia
Persero Tbk PT and Bank Central Asia fell
more than 1.5 percent each. 
    Analysts said local retail and institutional investors sold
shares and foreigners were on the buying side. Indonesia saw a
net $253.75 million foreign inflow into stocks on Friday. 
    Both presidential candidates, Joko "Jokowi" Widodo and his
rival, former general Prabowo Subianto, claimed victory in
Wednesday's election, the closest ever in the world's third
biggest democracy. 
    The Election Commission will announce the official result
around July 22.
    "I think the uncertainty may continue even after the
president is elected until he appoints the cabinet," said John
Teja, director of Jakarta-based broker Ciptadana Securities.
    Outperforming the Jakarta market, shares of property
developer PT Sitara Propertindo Tbk ended with a 70
percent gain in their trading debut on Friday. 
    In Singapore, United Overseas Bank Ltd ended 3.6
percent up after jumping 4.2 percent in early trade. Singapore
Exchange Securities Trading Limited cautioned investors after
the bank said it was unaware of any reason that could possibly
explain the gain. 
    Most other markets traded weaker with the Philippines 
ending 0.5 percent down, Malaysia 0.5 percent weaker and
Vietnam ending 0.4 percent lower. 
    Bucking the trend, Singapore closed 0.7 percent up.
The Thai stock market was closed for a holiday. 
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 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   438.92        439.69       -0.18
 Singapore          3293.73       3269.50       +0.74
 Kuala Lumpur       1883.15       1892.62       -0.50
 Jakarta            5032.60       5098.01       -1.28
 Manila             6901.09       6937.21       -0.52
 Ho Chi Minh         582.77        584.88       -0.36
 Change on year
 Market             Current       End 2013    Pct Move
 TR SE Asia Index*   438.92        388.37      +13.02
 Singapore          3293.73       3167.43       +3.99
 Kuala Lumpur       1883.15       1866.96       +0.87
 Bangkok            1518.01       1298.71      +16.89
 Jakarta            5032.60       4274.18      +17.74
 Manila             6901.09       5889.83      +17.17
 Ho Chi Minh         582.77        504.63      +15.48
 * 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 = 11580.0000 rupiah)
($1 = 3.1840 Malaysian ringgit)

 (Reporting by Shihar Aneez in Colombo; Editing by Sunil Nair)
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