Indonesian shares hit a near seven-month closing low on Monday as the rupiah extended slides after upbeat US jobs data bolstered expectations of an interest rate hike, while Thai shares rebounded, helped by gains in select transport and construction shares. The key Jakarta composite index fell 1.7 percent to 5,014.99, the lowest close since November 10, 2014. Shares of Bank Rakyat Indonesia and Bank Mandiri were among top losers with foreign investors net selling the shares.
The rupiah set a 17-year low for the third straight trading session, with other Southeast Asian currencies such as Malaysian ringgit, also hit by the US rate outlook. Kuala Lumpur composite index shed 0.3 percent to a near seven-month closing low. Stocks in Singapore and the Philippines both fell for a third trading day to the lowest since January, in line with weakness in Asia.
Thai SET index edged up 0.06 percent as investors bought shares with good earnings prospect such as skytrain operator BTS Group Holdings and asphalt maker Tipco Asphalt. Foreign investors turned net buyers of Thai shares for the first time in eight trading days, with a modest net purchase of 53 million baht ($1.57 million).
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