The Financial Express

Southeast Asian stocks fall, Malaysian holds steady

| Updated: December 01, 2017 11:58:33

Evaly and Fianancial Express Evaly and Fianancial Express
File Photo (Reuters) File Photo (Reuters)

Southeast Asian stock markets were downcast on Thursday as broader Asian equities fell sharply on a selloff in technology heavyweights, with Singapore falling the most.

Singapore shares fell as much as 0.6 per cent to their lowest in a week, weighed down by industrials and financials stocks, reports Reuters.

DBS Group Holdings and Jardine Matheson Holdings Ltd were the top drags on the index, inching down 1.1 per cent and 1.7 per cent, respectively.

Malaysian stocks held steady as losses in consumer discretionary stocks offset an about 30 per cent jump in Sime Darby Bhd after the company's plantation and property units debuted on the Jakarta Stock Exchange.

The trading in Sime Darby Bhd was based on the reference price provided by the company of 1.85 ringgit per share.

Indonesian shares slipped 0.3 per cent as consumer staples and telecom stocks weighed, with the index of the country's 45 most liquid stocks down 0.3 per cent.

Unilever Indonesia Tbk PT, a unit of Unilever Plc, and United Tractors Tbk PT fell about 1.2 per cent and 2.1 per cent, respectively.

Financial markets in the Philippines were closed for a public holiday.

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