Most Southeast Asian stock markets fell on Monday, in line with weak local currencies, as expectations of the US Fed's lift off in December and China's weak exports data hit risk appetite. The Thai key stock index was down 0.9 percent at 1,402.57, the lowest close since October 30. Top losers included PTT Global Chemical, down 2.7 percent, after it posted a weaker-than-expected quarterly profits.
Any slide in Thai stocks in coming weeks is likely to attract more investors of long term equity funds (LTFs) and retirement mutual funds (RMFS), brokers said. Demand for the funds often increases towards the end of the year due to tax incentives. Domestic-led selling sent Indonesian's index down 1.5 percent and the Philippine index 0.7 percent lower.
Indonesia saw a net inflow of 87 billion rupiah ($6.38 million) while the Philippines had a net 66 million pesos ($1.40 million) worth of inflows, stock exchange data showed. Most emerging Asian currencies slid on Monday amid strength in the US dollar. Vietnam closed down 0.3 percent, led by energy firms while volume reached a one-week high. Singapore fell 0.4 percent while Malaysia was little changed. Both markets will be closed on Tuesday for a holiday.