SE Asia Stocks-Most fall; Malaysia hits 2-wk low

Last Updated: Tue, Jun 20, 2017 11:40 hrs

By Nicole Pinto June 20 (Reuters) - Most Southeast Asian stock markets fell on Tuesday, with Malaysia hitting its lowest in two weeks as continuing outflows dampened investor sentiment, while a holiday next week marking the end of the Muslim holy month of Ramadan thinned trading volumes. Meanwhile, a report that index services provider MSCI will likely open its Emerging Markets Index to China's A shares as soon as next week was also seen as a drag on Southeast Asian markets. "Southeast Asia stocks that were included in MSCI Emerging market may have their weightage reduced to make way for stocks in China A Shares thus could see selling pressure in affected stocks partly due to rebalancing of portfolio," said Nik Ihsan from Maybank Investment Bank. Malaysia shares posted their biggest intraday drop in more than a month ahead of the May inflation data due on Wednesday. Malaysian consumer prices in May were likely 4.0 percent higher from a year earlier, a Reuters poll showed, cooling in pace for the second month in a row. "Malaysia stock market lightly traded ahead of the Aidilfitri festival next week while ongoing foreign outflow since the past weeks dampen investors interest," Nik Ihsan said. Maxis Bhd slipped 4.3 percent, while Tenaga Nasional fell 1.3 percent. Philippines shares fell as much as 0.3 percent ahead of the May budget balance data and central bank policy review due this week. A Reuters poll showed that it was widely expected to leave interest rates steady. However, some economists see an interest rate increase of up to 50 basis points in the second half of this year. Losses on the benchmark were concentrated in the real estate and financial sector, with Ayala Land down 0.8 percent and JG Summit losing 0.7 percent. Singapore shares edged down 0.1 percent, with index heavyweight Jardine Matheson Holdings falling 1.6 percent. Vietnam shares edged down 0.1 percent after closing at a fresh nine-year high on Monday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS; Change at 0444 GMT Change on the day Market Current Previous Pct Move Close Singapore 3242.81 3247.18 -0.13 Bangkok 1578.65 1581.14 -0.16 Manila 7929.51 7943.75 -0.18 Jakarta 5751.739 5741.909 0.17 Kuala Lumpur 1781.21 1788.9 -0.43 Ho Chi Minh 766.12 766.83 -0.09 Change so far this year Market Current End 2016 Pct Move Singapore 3242.81 2880.76 12.57 Bangkok 1578.65 1542.94 2.31 Manila 7929.51 6840.64 15.9 Jakarta 5751.739 5296.711 8.59 Kuala Lumpur 1781.21 1641.73 8.50 Ho Chi Minh 766.12 664.87 15.2 (Reporting by Nicole Pinto in Bengaluru; Editing by Amrutha Gayathri)

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