BANGKOK, Oct 25 — Southeast Asian stocks fell today, tracking weakness in other Asian markets as worries continued over tighter cash markets in China and Malaysian shares retreated ahead of the government’s budget announcement due later in the day.
The Malaysian index eased 0.3 per cent after rising for seven consecutive sessions, sending the benchmark to a record closing high of 1,818.93 on Thursday. Trading volume was 25 per cent of its daily average over the past 30 sessions.
Despite the fall, Malaysian shares were on track to post a weekly gain of 0.8 per cent for a fourth consecutive week and be among the outperformers in Southeast Asia.
Among the weak spots, the Thai SET index was down 0.4 per cent. It is set to fall almost 2 per cent on the week, after three weeks of gains, amid selling led by domestic funds.
The Thai exchange saw lacklustre trade as market players turned cautious after the Bank of Thailand cut 2013 GDP growth forecast to 3.7 per cent from 4.2 per cent.
Singapore’s index was down 0.2 per cent but remained on course for a third week of rise, while three stocks including Blumont Group Ltd, that have become targets of a government investigation, tumbled.
Vietnam’s benchmark VN Index edged down 0.01 per cent. It is set to post a modest gain on the week, rising for a second straight week. — Reuters
