Indonesia dips to lowest since July

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(SE Asia Stocks Wed 10/09/14 19:09:18)

BANGKOK (Sept 10): Indonesia's key stock market index posted its worst drop in two months on Wednesday amid outflows and losses in large-caps, as the prospect of a sooner-than-expected U.S. rate hike triggered selling across markets in Southeast Asia.

Jakarta's Composite Index closed down 1.04 percent — the biggest one-day fall since July 11. Shares of Astra International, the most actively traded stock, slipped 2.3 percent due to selling by foreign investors, Thomson Reuters data showed.

The Indonesian stock market saw net selling by foreign investors of 816 billion rupiah ($69.11 million), Thomson Reuters data showed.

Other markets also posted net foreign outflows as Asian shares tumbled on Wednesday, with MSCI's broadest index of Asia-Pacific shares outside Japan down 1.3 percent.

Investors expect the U.S. Federal Reserve to keep interest rates lower for longer, and to raise them more slowly than the makers of U.S monetary policy themselves expect, according to research published Monday by the San Francisco Fed.

Malaysia posted net foreign outflow worth 94.62 million ringgit ($29.57 million), and Thailand reported a net outflow of 224 million baht ($6.96 million).

SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market             Current     Prev Close    Pct Move
Singapore          3338.63       3342.96       -0.13
Kuala Lumpur       1870.85       1874.12       -0.17
Bangkok            1582.13       1583.18       -0.07
Jakarta            5142.99       5197.12       -1.04
Manila             7212.78       7253.67       -0.56
Ho Chi Minh         628.80        626.92       +0.30

Change on year
Market             Current       End 2013    Pct Move
Singapore          3338.63       3167.43       +5.41
Kuala Lumpur       1870.85       1866.96       +0.21
Bangkok            1582.13       1298.71      +21.82
Jakarta            5142.99       4274.18      +20.33
Manila             7212.78       5889.83      +22.46
Ho Chi Minh         628.80        504.63      +24.61

(1 US dollar = 11,807.0000 rupiah)
(1 US dollar = 3.2000 Malaysian ringgit)
(1 US dollar = 32.1800 Thai baht)