BANGKOK, Sept 30 (Reuters) - Southeast Asian stocks fell on
Monday as a risk-off mood prevailed due to concerns of a likely
shutdown of the U.S. government, with Indonesia poised to end
the quarter with the biggest loss since December 2008 as a weak
rupiah helped spur risk aversion.
Indonesia's main share index was down 1.3 percent,
extending a 3.5 percent drop on the previous week and losing
more than 9 percent so far in the July-September quarter, making
it the region's worst performer.
Investors further trimmed positions in large caps, sending
Semen Indonesia shares 4 percent lower, continuing
from last week's 8.5 percent decline. Selling was also heavy in
banks amid concerns over loan growth outlook.
The Thai SET index was the second worst performer,
sliding 2 percent and on track for a quarterly loss of around 4
percent. Shares in banks such as Kasikornbank and
Krung Thai Bank extended losses from the previous week.
"We expect foreign outflows to continue in the near-term ...
We recommend investors to stay defensive and monitor if the U.S.
congress can avert a government shutdown today before re-shaping
investment strategy," a Bangkok-based strategist at KGI
Securities wrote in a report.
Trading volume was relatively thin across exchanges as
players awaited key economic data this week, including September
inflation of Indonesia for an indication of its monetary policy
and interest rate outlook that could affect fund flows.
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SOUTHEAST ASIAN STOCK MARKETS
Change at 0450 GMT
Market Current Prev Close Pct Move
TR SE Asia Index* 402.31 408.80 -1.59
Singapore 3190.41 3210.18 -0.62
Kuala Lumpur 1763.54 1776.16 -0.71
Bangkok 1388.59 1417.49 -2.04
Jakarta 4350.13 4423.72 -1.66
Manila 6317.22 6379.81 -0.98
Ho Chi Minh 489.37 486.61 +0.57