December 26, 2018 / 9:56 AM / a year ago

SE Asia Stocks-Most fall as global selloff extends

    * Regional trading volume low due to year-end holidays
    * Singapore stocks post weakest close in nearly 2 months
    * Thai stocks recover from over 19-month intraday low

    By Ambar Warrick
    Dec 26 (Reuters) - Most Southeast Asian stock markets closed
lower on Wednesday, in line with a global equity rout that
started last week, in low-volume trade due to year-end holidays.
    Political disarray in the United States continued to be a
source of selling pressure, as the convening of a crisis group
by the U.S. Treasury Secretary raised concerns of an impending
recession. Investors were also far from pleased by a government
shutdown, as well as President Donald Trump's hostile stance
towards the Federal Reserve chairman.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 slipped about 0.5 percent, brushing a two-month
low. Wall Street had also slipped on Christmas eve, and appeared
set for another losing session later in the day.
    Singapore stocks led the decline in Southeast Asia,
shedding 1.3 percent to an eight-week closing low, even after
the city-state reported robust manufacturing data for November.
Trading volumes were at about half of their 30-day average.
    Financials and industrials were the heaviest losers in
broad-based declines. Lender DBS Group closed 1.2
percent lower, while industrial conglomerate Jardine Matheson
 shed 0.8 percent.
    Malaysian stocks dropped 0.7 percent in largely
broad-based losses. Telecom heavyweight Maxis Bhd fell
more than 2 percent, while conglomerate Genting Bhd
lost 3.4 percent.
    Trading volumes in the country were at about 40 percent of
their 30-day average.
    Thai shares snapped four straight sessions of
declines to end slightly higher. They had hit their lowest since
mid-May 2017 earlier in the session. 
    The benchmark stock index lost more than 2 percent on
Tuesday after data showed that factory output in November rose
lesser than expected, indicating a possible decline in future
    For the day, Thai stocks were pushed higher by strength in
energy and industrial stocks. Oil and gas explorer PTT PCL
 ranked among the largest boosts to the index following
a mild rebound in oil prices, while Airports of Thailand PCL
 ended 2 percent higher. 

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 STOCK MARKETS                               
 Change on the day                           
 Market             Current  Previous close  Pct Move
 Singapore          3011.15  3051.06         -1.31
 Bangkok            1556.93  1556.65         0.02
 Manila             7450.01  7479.71         -0.40
 Jakarta            6127.85  6163.596        -0.58
 Kuala Lumpur       1672.6   1683.82         -0.67
 Ho Chi Minh        891.75   897.94          -0.69
 Change on year                              
 Market             Current  End 2017        Pct Move
 Singapore          3011.15  3402.92         -11.51
 Bangkok            1556.93  1753.71         -11.22
 Manila             7450.01  8558.42         -12.95
 Jakarta            6127.85  6355.654        -3.58
 Kuala Lumpur       1672.6   1796.81         -6.91
 Ho Chi Minh        891.75   984.24          -9.40

 (Reporting by Ambar Warrick in Bengaluru; Editing by Subhranshu
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