SE Asia Stocks Malaysia leads fall as banking shares decline

by **Cals** Wed 04 May 2016, 00:04

SE Asia Stocks

[size=28]Malaysia leads fall as banking shares decline

By Reuters / Reuters | May 3, 2016 : 7:36 PM MYT

JAKARTA (May 3): Most Southeast Asian stock markets ended lower on Tuesday, with the Malaysian index leading the decline amid falls in banking shares.

The Malaysian stock index fell 1.3% to its lowest closing since Feb 15, weighed down by the financial sector.

Shares of Malayan Banking Bhd lost 1.7%, while CIMB Group Holdings Bhd fell 2.8% after central bank data last week showed banks' loan growth continued to ease in March, ahead of earnings announcements later this month.

"In March, loans growth continued to decelerate but asset quality stablilized on month-on-month basis. However, indicators still point to subdued outlook with loan applications and approvals still falling," Kenanga Investment Bank said in a note on Tuesday.

Singapore's Straits Times Index lost nearly 1%, while Thai stocks fell 0.5% after the long weekend.

Most Southeast Asian markets were closed on Monday to mark the May 1 Labour Day, which fell on Sunday.

Philippine stocks failed to retain earlier gains and closed 0.1% lower as pre-election jitters lingered, while the Jakarta Composite Index (JCI) bucked the trend with a 0.1% gain.

"The JCI has fallen by 2.2% since previous week's Monday, amid plenty of disappointing results. We think a rebound is due," broker Trimegah Securities in Jakarta said.

Indonesia is scheduled to release first-quarter GDP data on Wednesday. A Reuters poll showed first-quarter GDP inching up to 5.05% year-on-year, from 5.04% in the fourth quarter.

SOUTHEAST ASIAN STOCK MARKETS

Change on day

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Market	Current	Prev close	Pct change
Singapore	2811.2	2838.52	-0.96
Kuala Lumpur	1651.44	1672.72	-1.27
Bangkok	1397.87	1404.61	-0.48
Jakarta	4812.26	4808.32	0.08
Manila	7046.57	7053.88	-0.1

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Change on year

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Market	Current	End 2015	Pct change
Singapore	2811.2	2882.73	-2.48
Kuala Lumpur	1651.44	1692.51	-2.43
Bangkok	1397.87	1288.02	8.53
Jakarta	4812.26	4593.01	4.77
Manila	7046.57	6952.08	1.36