Indonesian shares hit a four-week low on Wednesday amid selloffs in large-caps and a fall in the rupiah while other share markets in Southeast Asia fell in line with global equities after a survey indicating weak factory data from China. Jakarta's composite index ended down 2.3 percent at 4,244.43, its lowest close since August 26. Redemptions from US and London-based funds were blamed for the slump, according to fund managers.
Shares of Bank Rakyat Indonesia were down 5.9 percent while Bank Mandiri fell 6.4 percent on selling by foreign investors, Thomson Reuters data showed. Indonesia's stock market is closed on Thursday for a public holiday. Stocks in Singapore and Malaysia also fell ahead of a public holiday on Thursday.
The Philippine index posted a third straight loss to a near-two-week low, while Vietnam ended a tad lower and the Thai SET index erased some early losses. Thai property shares outperformed as the government's plan for measures to help the sector boosted late buying. LPN Development jumped nearly 3 percent and Quality Houses was up nearly 4 percent.
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