Southeast Asian stocks – most lose ground due to Wall St debacle

                * Vietnam plunges to three-month low
* Thai and Malaysian stocks set for sixth consecutive day of loss
* Philippines: massive sale of foreign investors
* Indonesian dollars tend to rise

By Rashmi Ashok
October 25 (Reuters) - Most stock markets in Southeast Asia
collapsed Thursday, following a technological defeat on Wall Street that
the gains of the year have been erased, leaving poorer investors
billions of dollars in global markets.
Disappointing forecasts from chip makers push the boundaries of technology
private sector, sending investors rushing to the security of
bonds, pushing Wall Street to its worst fall in a day since
2011.
A concoction of other negative factors like Saudi Arabia
diplomatic tensions, fears of slowing global growth and
The Brexit stalemate has scared investors with the widest MSCI index
decline in Asia-Pacific equities outside Japan
about 2 percent.
Vietnamese stocks plunged up to 4% on a
three month low and were on track for a sixth consecutive day
in the red. Financial and real estate stocks were hit
beating it, with the lender Joint Stock Commercial Bank for Foreign
The Vietnam Trade Loses 2.7% and the Vingroup JSC Group
lose 2.3 percent.
Philippine shares fell 2.3%, driven by
banking and industrial stocks, pushing the loss of the index this
week at 2.6 percent.
"About 45 minutes after the start of trading, net sales abroad have
already reached more than 100 million pesos. After last night
bloody session on Wall Street, as one could expect from strangers
step up the sale of Philippine shares, while local investors
remain on the sidelines, "said Fio Dejesus, a researcher
analyst at RCBC Securities.
The banking giant BDO Unibank Inc. lost 3.6% and
SM Investments Corp industrial conglomerate dropped 2.7
percent.
"It's a robbery for security, they come in less risk
assets like government treasuries because the sense of risk has
hit the emerging markets very hard, "he added.
The shares of Singapore have experienced the same gloomy feeling,
give up the short-lived gains of the previous day to take each week
losses to more than 2 percent.
Casino and gaming operator Genting Singapore Ltd
fell 3.3% and investor Yangzijiang Shipbuilding
(Holdings) Ltd lost 1.7%.
Malaysian stocks have followed the same path,
losing 0.8 percent, showing its sixth in a row
session of losses.
Plantation and industrial heavyweight Sime Darby Berhad
lost 5.9 percent and oil and gas service provider
The Berhad dialogue group lost 3.9%.
After the heavy losses of energy stocks of the previous session,
the Thai index extended the losses and was ready for a
series of six-day losses. All sectors marketed in the red, with oil
and the PTT PCL gas refiner losing 1 percent and the lender
Siam Commercial Bank PCL lost 2.2%.
Indonesian stocks seemed to escape the worst,
slightly higher, gains in financial stocks offsetting
losses in other sectors. Lender PT Bank Central Asia Tbk
gained 0.8 percent while the heavyweight and auto sector
truck manufacturer PT Astra International Tbk lost 0.3
percent.


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SOUTH-EAST ASIAN ACQUISITION MARKETS AT 0341 GMT

Current market Back close Pct Move
Singapore 3002.07 3032.08 -0.99
Bangkok 1602.92 1623.37 -1.26
Manila 6962.36 7129.42 -2.34
Jakarta 5716.568 5709.417 0.13
Kuala Lumpur 1676.68 1690.04 -0.79
Ho Chi Minh 893.99 922.73 -3.11

Change of year
Market current late 2017 Pct Move
Singapore 3002.07 3402.92 -11.78
Bangkok 1602.92 1753.71 -8.60
Manila 6962.36 8558.42 -18.65
Jakarta 5716.568 6355.654 -10.06
Kuala Lumpur 1676.68 1796.81 -6.69
Ho Chi Minh 893.99 984.24 -9.17


(Report by Rashmi Ashok, edited by Sunil Nair)