Reuters - Indonesian shares underperformed in Southeast Asia on Monday, sliding to their lowest in two weeks amid weak fourth-quarter economic estimates and a fall in the rupiah, while short-covering helped Thai stocks recoup earlier losses.

Jakarta’s Composite Index dropped 1.3 percent to 4,202.81, their lowest close since Dec. 23. Agricultural and mining stocks led the decliners due to concerns about the impact of the rupiah's weakness on earnings. Indonesia's economy contracted by 1.4 to 2 percent in the fourth quarter from the previous three months, though full-year growth was 5.7 percent, Finance Minister Chatib Basri said on Monday.

The Thai SET index ended up 0.5 percent at 1,230.84, helped by late buying in battered stocks such as Kasikornbank and Advanced Info Service. The benchmark fell to 1,205.44 at one point, the lowest since August 2012. Short-term trading dominated the market, while the persisting political uncertainty kept the market rebound small, said Pichai Lertsupongkij, a senior analyst at broker Thanachart Securities, pegging near-term resistance of the SET at 1,240.

"Flows moved out of energy into banking and telecoms shares today, mainly involving short-term trading. A big picture is still weak as political concerns remain," said Pichai Lertsupongkij. Thousands of anti-government protesters marched through the Thai capital on Sunday, a prelude to a broader action next week when they say they will shut down Bangkok in their bid to scuttle a February election and topple Prime Minister Yingluck Shinawatra.

Stocks in Singapore and Malaysia ended down amid weaknesses in Asian stockmarkets after growth in China's services sector slowed sharply last month. Philippine shares gained 0.6 percent, helped by selective buying in large caps such as Philippine Long Distance Telephone, while Vietnam rose 0.74 percent, led by gains in most blue chips.

SOUTHEAST ASIAN STOCK MARKETS

Change on day

Market Current Prev Close Pct Move

TR SE Asia Index* 379.25 379.62 -0.10

Singapore 3123.82 3131.47 -0.24

Kuala Lumpur 1829.18 1834.74 -0.30

Bangkok 1230.84 1224.62 +0.51

Jakarta 4202.81 4257.66 -1.29

Manila 5985.81 5947.93 +0.64

Ho Chi Minh 509.10 505.37 +0.74

Change on year

Market Current End 2013 Pct Move

TR SE Asia Index* 379.25 388.37 -2.35

Singapore 3123.82 3167.43 -1.38

Kuala Lumpur 1829.18 1866.96 -2.02

Bangkok 1230.84 1298.71 -5.23

Jakarta 4202.81 4274.18 -1.67

Manila 5985.81 5889.83 +1.63

Ho Chi Minh 509.10 504.63 +0.89

* The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.

Stock Market Volume (shares)

Market Current Volume Average Volume 30 days

Singapore 131,857,500 188,794,220

Kuala Lumpur 93,432,600 106,926,763

Bangkok 4,860,342 5,323,074

Jakarta 1,972,307,800 2,918,416,883

Manila 77,784 71,307

Ho Chi Minh 68,738 88,871