Mostly down; Jakarta underperforms on China growth concerns

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(SE Asia Stocks: Tues 23/09/14 19:10:53)

JAKARTA (Sept 23): Indonesian shares fell to a one-week low on Tuesday amid concerns about China's growth, even after a private survey showed factory activity unexpectedly picked up in September.

The Jakarta Composite Index fell 0.6 percent to its lowest close since Sept 17.

Andri Zakarias, an analyst with BNI Securities in Jakarta, said concern over China's economic growth is still dominant in the Indonesian market.

"There are concerns for slowing demand for commodities which may affect companies in Indonesia," he said.

However, commodities across the region got a break from the recent selloff, after a preliminary HSBC survey showed Chinese manufacturing activity expanded at a slightly faster pace, even as employment fell to a 5-1/2 year low.

Elsewhere, Malaysia's main stock index fell 0.3 percent to its lowest close since Aug 08, after touching a six-month low during early trade.

Foreign investors sold a net $78.74 million worth of Malaysian shares on Tuesday.

The Philippines' share index fell 0.1 percent, while Vietnam also retreated to a more than one-month low.

Singapore and Thailand bucked the trend, ending steady. Bangkok saw net foreign inflows of $18.49 million.

SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market             Current     Prev Close    Pct Move
Singapore          3298.09       3296.57       +0.05
Kuala Lumpur       1840.19       1846.05       -0.32
Bangkok            1590.13       1589.51       +0.04
Jakarta            5188.11       5219.80       -0.61
Manila             7271.62       7279.86       -0.11
Ho Chi Minh         610.39        611.93       -0.25

Change on year
Market             Current       End 2013    Pct Move
Singapore          3298.09       3167.43       +4.13
Kuala Lumpur       1840.19       1866.96       -1.43
Bangkok            1590.13       1298.71      +22.44
Jakarta            5188.11       4274.18      +21.38
Manila             7271.62       5889.83      +23.46
Ho Chi Minh         610.39        504.63      +20.96

(1 US dollar = 3.2435 Malaysian ringgit)
(1 US dollar = 32.2100 Thai baht)