Indonesian shares fell to a one-week low on Tuesday amid concerns about China's growth even after a private survey showed factory activity unexpectedly picked up in September. The Jakarta Composite Index fell 0.6 percent to its lowest close since September 17. Andri Zakarias, an analyst with BNI Securities in Jakarta, said concern over China's economic growth is still dominant in the Indonesian market.
"There are concerns for slowing demand for commodities which may affect companies in Indonesia," he said. However, commodities across the region got a break from the recent selloff after a preliminary HSBC survey showed Chinese manufacturing activity expanded at a slightly faster pace even as employment fell to a 5-1/2 year low.
Elsewhere, Malaysia's main stock index fell 0.3 percent to its lowest close since August 8 after touching a six-month low during early trade. Foreign investors sold a net $78.74 million worth of Malaysian shares on Tuesday. The Philippines' share index fell 0.1 percent, while Vietnam also retreated to a more than one-month low. Singapore and Thailand bucked the trend, ending steady. Bangkok saw net foreign inflows of $18.49 million.
Comments
Comments are closed.