March 20, 2014 / 7:26 AM / in 4 years

SE Asia Stocks-Down on U.S. Fed rate hike concerns

BANGKOK, March 20 (Reuters) - Southeast Asian stock markets
fell on Thursday as concerns about a sooner-than-expected rise
in U.S. interest rates triggered selling across the region.
    Jakarta's Composite Index fell 2.5 percent, trimming
its year-to-date gain in U.S. dollar terms to 18.5 percent, but
still retaining its position as Asia's second-best performer so
far this year.
    Profit-taking hit large-caps, with the biggest
losers including shares of Bank Danamon Indonesia and
property firm Pakuwn Jati.
    The Thai SET index was down 0.8 percent at midday,
extending losses from the past two days due to selling by
domestic investors. The market saw foreign inflows this week
after the lifting of an emergency decree. 
    "Given the tight valuations and domestic uncertainty, SET
may trade sideways down," strategists at broker KGI Securities
wrote in a report.
    Stocks in Singapore, Malaysia and the
Philippines were all stuck in negative territory after a
drop in U.S. stocks overnight. 
    U.S. stocks fell on Wednesday after comments from Federal
Reserve Chair Janet Yellen raised the possibility of an earlier-
than-anticipated increase in interest rates. 
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For South East Asia Hot Stock reports, click;

 Change at 0657 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   399.25        405.92       -1.64
 Singapore          3060.14       3080.75       -0.67
 Kuala Lumpur       1813.98       1817.44       -0.19
 Bangkok            1354.10       1364.27       -0.75
 Jakarta            4703.41       4821.46       -2.45
 Manila             6411.51       6462.49       -0.79
 Ho Chi Minh         601.23        605.59       -0.72
* 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 Sunil Nair)

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