Asean stocks fall as investors were cautious
BANGKOK: Southeast Asian stock markets fell on Thursday as investors were cautious due to the budget battle in the US, with the Indonesian benchmark index reversing earlier gains as short-term players locked quick gains in banking shares.
Late selling in stocks of large caps such as Bank Mandiri and Bank Negara Indonesia weighed on the broader market, with the benchmark index closing a tad lower at 4,405.89.
Thai stocks ended down 0.8 per cent after rising 1.4 per cent in the previous session.
Singapore, Malaysia and the Philippines extended their losses so far on the week to the lowest close in more than one week.
Foreign investors sold Indonesian shares worth a net 573.9 billion rupiah (US$49.97 million) and Malaysian shares a net RM77 million, Thomson Reuters and stock exchange data showed.-- Reuters