April 25, 2018 / 10:18 AM / a year ago

SE Asia Stocks-Indonesia dives to over 4-month low on foreign outflows

    * Indonesia index posts biggest fall in 17 months
    * Philippine index closes at lowest in over a year

    By Sumeet Gaikwad
    April 25 (Reuters) - Indonesian shares plummeted to their
lowest since mid-December on Wednesday, as a rise in U.S. bond
yields to a multi-year high triggered a sell-off in riskier
assets, while other Southeast Asian stock markets also ended
    The Jakarta stock exchange, which ended down 2.4
percent, saw its steepest loss in a day since November 2011,
dragged down by financials.
    Investors are slowly reducing U.S. dollar-funded carry
trades in emerging markets after a broad rally of the benchmark
currency was fuelled by worries over inflation and bond supply
in the United States and a subsequent spike in Treasury yields.

    U.S. benchmark 10-year Treasury yield rose to 3 percent for
the first time in more than four years on Tuesday.
    Foreign investors have been dumping riskier assets and the
outflow in April was close to 7 trillion rupiah, said Taye Shim,
head of research at Mirae Asset Sekuritas.
    "I think primarily the key reason is that the central bank
of Indonesia is maintaining a stubbornly low dovish stance in
terms of their monetary policy," he said.
    Indonesia's index of 45 most liquid stocks fell
3.2 percent.
    Philippine shares closed at their lowest in over a
year as industrials weighed on the index. Index heavyweight SM
Investments Corp, which was the biggest drag with a 1.4
percent fall.
    Industrials and financials dragged the Singapore stock
exchange 0.5 percent lower. The city-state's biggest
lender DBS Group Holdings shed 0.7 percent, while
Keppel Corporation slipped as much as 3.2 percent. 
    Malaysian shares fell 0.7 percent to close at their
lowest in over two weeks as financials faltered. Public Bank Bhd
 fell as much as 1.2 percent.
    Thai shares ended down 0.5 percent.
    Vietnam was closed for a holiday.
For Asian Companies click;  
 Change on day                            
 Market          Current  Previous Close  Pct Move
 Singapore       3568.01  3584.56         -0.46
 Bangkok         1779.52  1788.2          -0.49
 Manila          7557.91  7600.36         -0.56
 Jakarta         6079.85  6229.635        -2.40
 Kuala Lumpur    1851.93  1865.34         -0.72
 Change on year                           
 Market          Current  End 2017        Pct Move
 Singapore       3568.01  3402.92         4.85
 Bangkok         1779.52  1753.71         1.47
 Manila          7557.91  8558.42         -11.69
 Jakarta         6079.85  6355.654        -4.34
 Kuala Lumpur    1851.93  1796.81         3.07
 ($1 = 13,918.0000 rupiah)

 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by Gopakumar
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