All Southeast Asia stocks end lower

All Southeast Asia stocks end lower

A man walks past an electronic stock quotation board outside a brokerage in Tokyo. Southeast Asian stocks closed lower in line with broader Asia. (Reuters photo)
A man walks past an electronic stock quotation board outside a brokerage in Tokyo. Southeast Asian stocks closed lower in line with broader Asia. (Reuters photo)

Southeast Asian stock markets closed lower on Monday in line with broader Asia.

Philippine shares closed down 0.4%, recovering some of the losses earlier in the session. The index had fallen as much as 1%, pulled down by a 23.6% drop in Energy Development Corp.

The renewable power producer said on Friday a tender offer for a consortium of investors to buy about a third of the company had ended.

The number of shares tendered was more than what the bidders had sought and the extra shares are being sold down, said Joseph Roxas, president of Manila-based Eagle Equities Inc.

Market heavyweight SM Investments Corp rose, reversing an early drop, and hit a record closing high.

"Philippine shares turned to profit-taking mode as the last week of September started," said Luis Limlingan, managing director at Regina Capital.

"Some volatility may be expected this week for the Philippines, with a lot of funds wanting to "clean" their portfolios ahead of the end of 3Q17."

Singapore shares ended marginally lower after data showed the city-state's annual headline consumer price index rose at a slower-than-expected pace in August, reinforcing expectations that the central bank will keep policy unchanged at its review in October.

Real estate company CapitaLand Ltd slipped 1.1% to end at its lowest since July 13, while Jardine Matheson declined 0.7%.

Indonesian shares and the index of the country's 45 most liquid stocks fell 0.3% each.

Malaysian shares shed 0.1%, having traded at volumes 1.5 times the 30-day average, with losses in financial stocks such as Malayan Banking Bhd and AMMB Holdings largely offsetting a 2.3% rise in Petronas Gas.

Southeast Asian stock markets

 

 

Current

Previous

% change

Indonesia                

5,894.61

5,911.70

-0.29

Malaysia       

1,769.14

1,771.04

-0.11

Philippines                 

8,244.73

8,281.27

-0.44

Singapore                 

3,215.91

3,220.25

-0.13

Vietnam        

805.58

807.13

-0.19

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