Thailand’s share index on Thursday recorded its biggest single-day fall since mid-November, while stocks in the Philippines reversed losses by the end of the session.
Index leader Ayala Corp was the main gainer on the benchmark.
Asean’s stocks have fallen since Chinese growth retracted in the third quarter.
The Stock Exchange of Thailand’s main index dropped as much as 1.6 per cent despite the registering of a trade surplus in September. Thailand also increased its export growth forecast for this year to above 8 per cent.
Thailand’s customs-cleared annual exports rose for a seventh-straight month in September, better than expected as global demand remained strong.
Exports, vital to the Thai economy, climbed 12.2 per cent last year from a year earlier after rising 13.2 per cent in August, the Commerce Ministry said.
A Reuters survey of eight economists found the median forecast at a 10.4-per-cent rise.
Malaysian shares slipped as much as 0.4 per cent to their lowest level since April 20 ahead of the monthly inflation figures today (Friday).
The consumer price index rose around 4.3 per cent last month, according to Reuters, indicating an inflation increase for a second month.
Indonesia’s shares fell 0.3 per cent ahead of a policy meeting where Bank Indonesia was expected to address monetary policy.
The Indonesian sub-index of the 45 most liquid stocks on the benchmark lost as much as 0.9 per cent, with Telekom Indonesia the leading victim.
Indonesia’s crude palm oil exports are expected to dip slightly last month from August, while output grew, according to Reuters. Malaysia and Indonesia dominate the global palm oil trade.
Singapore’s exports fell after four months of growth as the electronics sector lost momentum.
Non-oil domestic exports (NODX) fell 1.1 per cent last month compared with September last year, well below the 12.7-per-cent rise analysts predicted.
This was the worst performance since last December, especially coming on the heels of 16.7-per-cent growth in August.
But Singapore shares increased for a fifth session out of six, with giants United Overseas Bank and DBS Group Holdings leading the gains.
Singapore Exchange and US-based Nasdaq established a pact to back fast-growing Asean firms to list on both capital markets, possibly simultaneously.
While electronics exports slumped, posting 7.9 per cent last month after an estimated 20.8-per-cent expansion in August, shipments of non-electronics exports continued to increase.
Non-electronics exports rose by 1.9 per cent in September, after growth of 15 per cent in August. However, it was swamped by a 36-per-cent fall in pharmaceuticals sales, pointing to the notorious volatility of the drugs sector.
Thai exports have performed well this year. Picture credit: Wikimedia