Most Southeast Asian stock markets fell on Monday on weak sentiment after losses in Asian stocks, with the Thai index hitting a more-than-seven-month low after weaker-than-expected exports in June. The Thai benchmark was down 1.57 percent at 1,415.50, the lowest level since December 15, with index heavyweight PTT Pcl and Advanced Info Service Pcl among actively-traded stocks.
Thai exports tumbled 7.87 percent in June from a year earlier versus a forecast of 5 percent fall in a Reuters poll. Brokers in Bangkok expected weak market sentiment to continue in the near term.Thai shares underperformed in the region last week amid foreign-led selling and expectations of cabinet reshuffle.
Prime Minister Prayuth Chan-ocha said on Monday he might consider a cabinet reshuffle after the current government reaches the end of its one-year working period, set in place by the junta after a coup, in September or earlier. Singapore's Straits Times Index was down 0.8 percent, with shares of DBS Group Holdings 1.1 percent lower after it reported a second-quarter net profit rise but warned of some uncertainty in the second half. Malaysia hit a two-week low in line with a fall in the ringgit. Indonesia hovered around a more-than-two-week low and the Philippines retreated after four successive days of gains.
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