Mostly weaker; Malaysia, Singapore fall on China PMI

Bareksa.com - Most Southeast Asian markets fell on Monday, with Malaysia and Singapore trading near one-week lows as disappointing Chinese manufacturing activity raised concerns about the economic growth momentum in the world's second-largest economy.  

The Malaysian stock index was down 0.4 percent by 0632 GMT while the Singapore index was 0.1 percent weaker. Activity in China's manufacturing sector contracted for a fourth consecutive month in April, a private survey showed on Monday, adding to questions about whether the world's second-largest economy is still losing momentum. 

The Vietnam stock market, which resumed trading after a holiday since April 29, was down 1.7 percent, despite solid improvement in the country's manufacturing sector. Bucking the trend, the Philippine stock index was 0.3 percent firmer after recovering from an early loss, while the Jakarta Composite index was steady as Indonesia, Southeast Asia's largest economy, posted its slowest growth in more than four years. 

The Thai market was closed on Monday for a holiday. 
   

Southest Asian stock market

 Change at 0632 GMT
 Market                        Current     Prev Close    Pct Move
 TR SE Asia Index*        420.27        420.06       +0.05
 Singapore                  3250.27       3252.55       -0.07
 Kuala Lumpur            1862.04       1869.08       -0.38
 Jakarta                     4840.53       4838.76       +0.04
 Manila                      6760.17       6742.97       +0.27
 Ho Chi Minh               567.96        578.00        -1.74

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

(Source : Reuters)