SE Asia Stocks-Most markets fall; Indonesia slumps over 2 pct
* Thai stocks fall to 10-month closing low
* Philippine shares retreat 1.5 pct
By Ambar Warrick
June 28 (Reuters) - Most Southeast Asian stock markets fell
on Thursday, in line with broader Asia on worries that mounting
Sino-U.S. trade tensions are hurting global economic growth.
Indonesian shares slumped 2.1 percent to their
lowest close since mid-May 2017, extending their decline into a
third session and making them the region's top losers.
Losses were broad-based with financial and material stocks
leading the decline. Bank Central Asia ended 1.9
percent lower, while Indah Kiat Pulp & Paper shed 7.5
percent.
The Chinese yuan's depreciation is a negative sentiment for
Indonesian commodity firms, Trimegah Securities said in a note.
In the spot market, the yuan opened at 6.6177 per
dollar, and ended the onshore trading session at 6.6250 per
dollar, the weakest official close in seven months.
Indonesia exports a substantial amount of coal to China.
An index of the country's 45 most liquid stocks
ended 2.2 percent lower.
The rupiah plunged to its lowest since October 2015
against the dollar on extended outflows. A volatile currency has
prompted the central bank to take protective measures for the
economy.
Sentiment was also hurt as Asian stocks slumped to a
nine-month low. MSCI's broadest index of Asia-Pacific shares
outside Japan was down 0.7 percent as Chinese
stocks, coupled with the yuan, took a fresh beating.
Philippine shares dropped 1.5 percent after adding
2.4 percent in the previous session. Industrial and real estate
stocks were among the biggest drags after Wednesday's gain on
selective bargain-buying.
Index heavyweight SM Investments Corp ended 2.7
percent lower, while property developer SM Prime Holdings Inc
fell 3.5 percent.
Thai shares declined 1.2 percent to their lowest
close since August 2017 after the finance ministry said annual
economic growth would slow in the April-June period.
Meanwhile, Singapore shares closed slightly higher,
but remained parched near eight-month lows.
For Asian Companies click;
Change on the day
Market Current Previous close Pct Move
Singapore 3257.57 3254.77 0.09
Bangkok 1599.54 1618.66 -1.18
Manila 7066.57 7176.43 -1.53
Jakarta 5667.319 5787.552 -2.08
Kuala Lumpur 1665.68 1666.08 -0.02
Ho Chi Minh 957.35 968.91 -1.19
Change on year
Market Current End 2017 Pct Move
Singapore 3257.57 3402.92 -4.27
Bangkok 1599.54 1753.71 -8.79
Manila 7066.57 8558.42 -17.43
Jakarta 5667.319 6355.654 -10.83
Kuala Lumpur 1665.68 1796.81 -7.30
Ho Chi Minh 957.35 984.24 -2.73
(Reporting by Ambar Warrick in Bengaluru; Editing by Subhranshu
Sahu)