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SE Asia Stocks Down as China woes, global selloff spook markets
by Cals Mon 24 Aug 2015, 23:25
SE Asia Stocks
Down as China woes, global selloff spook markets
BANGKOK (Aug 24): Southeast Asian stock markets plunged to fresh lows on Monday on concerns over China's economy and selloffs in global equities.
Alarm bells rang across world markets as a 9% dive in Chinese shares and a sharp drop in the dollar and major commodities panicked investors.
The Philippine main index ended the day down 6.7%, its biggest loss since June 2013, erasing all its gains for the year and turning into a year-to-date loss.
The Manila bourse said foreign investors sold a net 2.95 billion peso ($63.06 million) worth of shares and Energy Development Corp was among the decliners as oil prices hit 6-1/2-year lows.
Vietnam closed down 5.3%, its biggest loss since May 2014, taking its fall so far this year to 3.4%.
The Thai SET index shed 4.7% to 1,301.06, its intra-day low and also a 1-1/2-year closing low. The Thai stock market, which saw foreign selloffs last week after the Bangkok bomb blast, saw a net outflow of 4.8 billion baht ($134 million) on the day.
Jakarta fell 4%, extending its slide from this year's high in April to 25% at one point, technically falling into bear market territory defined as a 20% decline or more from recent highs.
Malaysia closed at its lowest level since January 2012, recording net outflows worth 379 million ringgit ($89.01 million) during the session. Singapore ended down 4.3% at its day-low.
SOUTHEAST ASIAN STOCK MARKETS
($1 = 4.2580 ringgit)
($1 = 46.7800 Philippine pesos)
($1 = 35.7700 baht)
Down as China woes, global selloff spook markets
BANGKOK (Aug 24): Southeast Asian stock markets plunged to fresh lows on Monday on concerns over China's economy and selloffs in global equities.
Alarm bells rang across world markets as a 9% dive in Chinese shares and a sharp drop in the dollar and major commodities panicked investors.
The Philippine main index ended the day down 6.7%, its biggest loss since June 2013, erasing all its gains for the year and turning into a year-to-date loss.
The Manila bourse said foreign investors sold a net 2.95 billion peso ($63.06 million) worth of shares and Energy Development Corp was among the decliners as oil prices hit 6-1/2-year lows.
Vietnam closed down 5.3%, its biggest loss since May 2014, taking its fall so far this year to 3.4%.
The Thai SET index shed 4.7% to 1,301.06, its intra-day low and also a 1-1/2-year closing low. The Thai stock market, which saw foreign selloffs last week after the Bangkok bomb blast, saw a net outflow of 4.8 billion baht ($134 million) on the day.
Jakarta fell 4%, extending its slide from this year's high in April to 25% at one point, technically falling into bear market territory defined as a 20% decline or more from recent highs.
Malaysia closed at its lowest level since January 2012, recording net outflows worth 379 million ringgit ($89.01 million) during the session. Singapore ended down 4.3% at its day-low.
SOUTHEAST ASIAN STOCK MARKETS
| Change on day | |||
| Market | Current | Prev Close | Pct Move |
| Singapore | 2843.39 | 2971.01 | -4.30 |
| Kuala Lumpur | 1532.14 | 1574.67 | -2.70 |
| Bangkok | 1301.06 | 1365.61 | -4.73 |
| Jakarta | 4163.73 | 4335.95 | -3.97 |
| Manila | 6791.01 | 7278.98 | -6.70 |
| Ho Chi Minh | 526.93 | 556.30 | -5.28 |
| Change on year | |||
| Market | Current | End 2014 | Pct Move |
| Singapore | 2843.39 | 3365.15 | -15.50 |
| Kuala Lumpur | 1532.14 | 1761.25 | -13.01 |
| Bangkok | 1301.06 | 1497.67 | -13.13 |
| Jakarta | 4163.73 | 5226.95 | -20.34 |
| Manila | 6791.01 | 7230.57 | -6.08 |
| Ho Chi Minh | 526.93 | 545.63 | -3.43 |
($1 = 46.7800 Philippine pesos)
($1 = 35.7700 baht)
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