All Southeast Asian stock markets fell on Thursday with Singapore hitting a four-month low, as investors sold off the region's risky assets on concerns about the possibility of drawn-out negotiations to resolve the US 'fiscal cliff'. Thailand, the region's best performing market, fell 0.4 percent to hit a seven-week low, while Singapore closed 1.1 percent weaker to its lowest close since July 9. The Philippines and Vietnam lost 0.7 percent and 0.2 percent respectively.
"Investors are worried about the US fiscal cliff and debt crisis in Greece," said Teerada Charnyingyong, strategist at Bangkok-based broker Phillip Securities. Investors fear that the package of US tax increases and spending cuts mandated to come into force next year if a deal is not agreed - the so-called "fiscal cliff" - will pitch the world's biggest economy back into recession, dealing a fresh blow to the fragile global economy. Stock markets in Indonesia and Malaysia were closed.
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