September 5, 2011 / 10:41 AM / 8 years ago

SE Asia Stocks-Retreat; Singapore leads regional losses

 * Commodities hit amid slowing global growth
 * Indonesia touches two-week highs after holidays
 By Viparat Jantraprap	
 BANGKOK, Sept 5 (Reuters) - Most Southeast Asian stock
markets fell on Monday as dismal U.S. jobs data renewed fears of
a U.S. recession, turning regional big caps under selling
pressure and commodity stocks pulled lower along with weak
global oil prices. 	
 Mounting risks of the impact of slowing global growth on
earnings of listed firms prompted investors to cut their
positions. Market turnover was off its monthly average.	
 Traders were sidelined in the absence of indicators from
Wall Street which was shut on Monday and as European shares
fell, extending their previous session slide.	
 The region gave back last week's gains with Singapore stocks
 suffering their biggest losses in two weeks, finishing
down 2.5 percent, after a 3.5 percent gain last week.	
 Singapore was among Asian countries with a higher share of
exports to Western countries, that could be hurt if the United
States or European economies continued to slow.	
 Stocks in Malaysia , Thailand and the
Philippines posted smaller falls. Vietnam inched
up 0.1 percent and Indonesia edged up 0.6 percent,
rising as much as 1.8 percent at one point, on resuming trade  
after holidays last week.	
 Brokers in the region expect near term market weakness as
global economic prospects continue to worsen markedly.	
 "Much worse than expected U.S. job data last week, which
showed no jobs added in August, significantly raised investors'
concerns on the U.S. economy in the third quarter," said
Bangkok-based KGI Securities strategist Rakpong Chaisuparakul.	
 Asian stocks fell after U.S. employment data on Friday
showed the world's biggest economy failed to create any jobs
last month for the first time in nearly a year. 	
 By 0955 GMT, the MSCI's broadest index of Asia Pacific
shares outside Japan was trading 3 percent
lower.	
 In a research note dated Sept 5, broker Citi said it has
made sharp cuts to U.S., Euro area and U.K. growth, with modest
forecast cuts for China and India. Citi is cutting its 2011
global GDP growth forecast to 3.1 percent in 2011, and 3.2
percent in 2012.	
 Singapore stocks that were largely exposed to the global
economy and trade flows were among the hardest-hit. Shares of
container shipping firm Neptune Orient Lines (NOL) 
sunk 5.3 percent.	
 A drop in brent crude oil on Monday dented sentiment in
energy stocks. Thai oil refiner Thai Oil slid 3
percent, Malaysia's palm plantation firm IOI Corp fell
1.9 percent and Perusahaan Gas Negara , Indonesia's
biggest gas distributor, plunged 5.9 percent.	
 Banks, amongst crowded trades in recent weeks, pulled back.
Singapore-listed DBS Group Holdings was off 2.8
percent and Thai biggest bank Bangkok Bank was down 1.6
percent.   	
(Additional reporting by Andjarsari Paramaditha in Jakarta and
Singapore bureau; Editing by Jason Szep)      	
 	
	
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SOUTHEAST ASIAN STOCK MARKETS	
 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          2773.17       2843.09       -2.46
 Kuala Lumpur       1463.12       1474.09       -0.74
 Bangkok            1049.23       1065.18       -1.50
 Jakarta            3866.17       3841.73       +0.64
 Manila             4382.56       4392.91       -0.24
 Hanoi               435.73        435.29       +0.10
	
 Change on year
 Market             Current     End prev yr    Pct Move
 Singapore          2773.17       3190.04      -13.07
 Kuala Lumpur       1463.12       1518.91       -3.67
 Bangkok            1049.23       1032.76       +1.59
 Jakarta            3866.17       3703.51       +4.39
 Manila             4382.56       4201.14       +4.32
 Hanoi               435.73        484.66      -10.10
	
 Stock Market Volume (shares)
 Market          Current Volume    Average Volume 30 days
 Singapore         309,900,300          464,734,897       
 
 Kuala Lumpur      128,259,900          171,011,023       
 
 Bangkok             3,152,349            5,070,740       
 
 Jakarta         2,666,784,500        5,611,952,867    
 Manila                602,985              688,497    
 Hanoi                  52,711               31,044
	
 	
	
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