Thai to Indonesian stocks falling most since 2001 - Stocks in Southeast Asia are tumbling at their fastest pace in 12-years relative to global equities,...
Thai to Indonesian stocks falling most since 2001 - Stocks in Southeast Asia are tumbling at their fastest pace in 12-years relative to global equities, sending the regional benchmark index into a bear market for a third month in a row. The MSCI Southeast Asia Index has dropped 11% this month and is down a massive 21% from this year's peak in May. The gauge's August retreat is 9.1 percentage points bigger than that of the MSCI All-Country World Index, the widest gap since 2001. Foreign investors have sold a net $2.2 billion of Thai, Indonesian and Philippine shares this month amid signs of slowing growth and speculation that the Fed will soon cut stimulus. Investors have a mentality of take money out first, ask questions later. We are not entering the market in the near future, says David Poh, regional head at Societe Generale's private bank. (VIEW LINK)
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