BANGKOK, Jan 18 — South-east Asian stock markets fell in line with Asia today as a slide in oil prices triggered selloffs in energy shares, bringing Singapore's key index to a more than four-year low and the Philippines touching a near two-year low.
Singapore's Straits Times Index was down 1.5 per cent at 2,591.87, the lowest since October 2011, in active trading volume which was about 80 per cent of a full-day average over the past 30 days.
“Singapore shares slumped on renewed selling pressures amid talks of fund redemptions and margin calls selling,” said Singapore-based broker NRA Capital in a midday report.
Shares of oil and gas service firm Sembcorp Marine Ltd dropped 4.3 per cent as the weak oil market dented the outlook of oil-related businesses.
Singapore's weaker-than-expected exports in December also weighed on market sentiment.
The Philippine composite index was down 2.1 per cent at 6,312.68, the lowest since February 2014, with shares of oil refining company Petron Corp off nearly six per cent, the index's worst performer.
Vietnam's key index shed 3.2 per cent to the lowest since August 2015, led by a 6.4 per cent plunge in shares or PetroVietnam Gas.
Losses in Malaysia, Indonesia and Thailand were relative modest, partly reflecting bargain hunting of battered shares.
In Bangkok, investors selectively bought shares of banks ahead of earnings this week, sending state-run Krung Thai Bank almost two per cent higher. — Reuters
