Indonesia stocks fall to 1-week closing low, SET drops

Indonesian shares fell to a one-week closing low on Tuesday, as continued capital outflows and worse-than-expected trade data hurt investor sentiment, while the Stock Exchange of Thailand ended lower.

Indonesia posted its biggest trade deficit in four years in April as imports surged, wrong-footing analysts who expected a surplus for the month.

Southeast Asia's largest economy had a deficit of US$1.62 billion, the biggest since April 2014, while a Reuters poll forecast was for a $700 million surplus.

Apart from the suicide bombing attacks that happened on Monday, the currency is also one of the worst performers in the region, adding to investor anxiety, said Manny Cruz, an analyst with Asiasec Equities Inc.

The rupiah has declined around 0.6% against the dollar this week and remained perched around a two-and-a-half-year low hit last week.

Jakarta's main stock index closed 1.8% lower with financials being the biggest drag. 

Bank Central Asia fell 3.4%, while Bank Mandiri declined 4.9%.

The SET main index eased 6.24 points or 0.35% to close at 1,766.86, in trade worth 60 billion baht. PTT Plc was the biggest drag with a drop of 50 satang or 0.88% to 56.50 baht.

Philippine shares rose for a third straight session and closed 1.7% higher, boosted by gains in real estate stocks.

SM Prime Holdings rose 7.4% and Ayala Land climbed 3.1%.

"There is inflow of foreign funds and it's a subsequent move from last week," said Cruz.

Foreign investors net bought equities worth 293.4 million pesos ($5.6 million) on Friday, according to data from the Philippine Stock Exchange. The financial markets were closed on Monday for a holiday. 

Vietnam stocks closed 0.6 % higher, buoyed by gains in financials.

Fitch raised Vietnam's sovereign credit rating on Tuesday, a move that economists said should boost Vietnam's already-substantial investment inflows.

Singapore shares slid 0.6%, with DBS Group Holdings and Singapore Telecommunications shedding 1.2% and 2.6%, respectively.