SE Asia Stocks Mostly down ahead of US jobs data; Thai shares underperform

Business & Markets 2013
Written by Reuters
Friday, 06 December 2013 19:14
A + A - Reset
06/12/13 18:58:51
(Dec 6): Most Southeast Asian stock markets ended weaker on Friday as
uncertainty over a possible reduction in the U.S. Federal Reserve's stimulus hit
sentiment ahead of U.S. jobs data, while Thailand underperformed the region
due to political tensions.
The Thai stock market fell 1.1 percent to the lowest since its Nov. 28 close, led
by financials and energy shares.
Bangkok has suffered a net outflow of $115.45 million on Friday, extending the
net foreign selling to more than $780 million in seven straight sessions through
Friday. The market was closed for a holiday on Thursday.
Lingering political unrest and uncertainty over further tension in Bangkok hit
investor sentiment though there was calm on Friday as protesters seeking to
topple Thailand's government stayed off the streets after halting their
demonstration the day before out of respect for the king on his birthday.
Jakarta's Composite Index dropped 0.9 percent to a three-month closing low,
while Singapore's Straits Times Index lost 0.3 percent, ending near a
three-month low.
The markets have been factoring in concerns ahead of the U.S. jobs data that
could make or break the case for an imminent scaling back in Fed stimulus.
The Philippine index fell 0.3 percent to its lowest since Nov. 25.
Malaysia, bucking the trend, closed 0.1 percent up at a record closing high,
despite a $62.13 million outflow on Friday. Vietnam's benchmark VN Index was almost unchanged as blue chips moved in different
directions.