Indonesian shares fell for a second session on Friday amid uncertainties over the US stimulus cut, while Thai stocks retreated in thin market due to rising domestic political tension. Jakarta's Composite Index (JCI) closed down 1.7 percent at 4,432.59, the lowest close in almost four weeks. Foreign investors sold $47.90 million, taking their selling on the week to $64.94 million, Thomson Reuters data showed.
Indonesia was Southeast Asia's worst performer on the week, with the JCI index down 3.2 percent, the biggest weekly drop since late September and reversing three weeks of gains. Among losers, shares in PT Bumi Resources Tbk dropped 2.2 percent after the thermal coal exporter reported weak earnings.
Broker Bahana Securities maintained its "reduce" rating on the stock. Thai SET index fell about 1 percent, ending the week 1.8 percent lower, the second worst in the region. Thai stock exchange saw light trading volume amid protests against the political amnesty bill. Stocks in Singapore, Malaysia and Vietnam posted modest weekly losses. The Philippines, which was shut on Friday, eked out a weekly gain of 0.7 percent, outperforming its peers.
Comments
Comments are closed.