SE Asia Stocks Malaysia's index posts worst drop since December

by **Cals** Thu 06 Aug 2015, 20:35

SE Asia Stocks
Malaysia's index posts worst drop since December

BANGKOK (Aug 6): Malaysian shares posted their worst drop in nearly eight months on Thursday due to a fall in the ringgit and foreign-led selling, while most other markets in Southeast Asia fell, as investors weighed in the risk of a possible U.S. interest rate hike.
The Kuala Lumpur composite index dropped 1.8 percent, the biggest single-day loss since December 2014. The Malaysian bourse said foreign investors unloaded a net 261 million ringgit ($67 million) on the day.
The ringgit weakened past 3.9000 per dollar on Thursday for the first time since the Asian financial crisis 17 years ago, as concern grew over a corruption scandal embroiling the prime minister and weakness in commodity prices.
Indexes in Thailand and Indonesia reversed their previous day's gains, while the Philippines snapped a six-day winning streak, reflecting the heightened expectations of a possible interest rate hike in the United States.

Vietnam's benchmark VN Index closed almost 1 percent lower, with most shares losing ground after a swift rebound in the previous session.
Singapore finished up 0.17 percent in a range-bound session. The city-state's stock market will be closed from Friday through Monday.

SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market             Current     Prev Close    Pct Move
Singapore          3196.66       3191.39       +0.17
Kuala Lumpur       1694.64       1725.56       -1.79
Bangkok            1430.58       1436.36       -0.40
Jakarta            4806.56       4850.53       -0.91
Manila             7589.95       7662.55       -0.95
Ho Chi Minh         601.04        607.08       -0.99

Change on year
Market             Current       End 2014    Pct Move
Singapore          3196.66       3365.15       -5.01
Kuala Lumpur       1694.64       1761.25       -3.78
Bangkok            1430.58       1497.67       -4.48
Jakarta            4806.56       5226.95       -8.04
Manila             7589.95       7230.57       +4.97
Ho Chi Minh         601.04        545.63      +10.16

($1 = 3.9040 ringgit)