Southeast Asian stock markets fell on Monday as a selloff in Chinese shares dented Asian stocks, with the Indonesian index marking its worst drop in a month while Thai shares shed early gains amid mixed economic data for October. Jakarta's composite index ended the day down 2.5 percent, its biggest single-day fall since October 29. It posted a modest 0.2 percent loss in November.
Banking and consumer shares were among the most actively traded. Bank Central Asia fell 5.9 percent while Indofood Sukses Makmur slid 9.7 percent. The Thai SET index eased 0.2 percent on the day and shed 2.5 percent on the month. Data from the Bank of Thailand showed private investment rose in October, indicating the economy is making a little headway though exports and domestic demand remained weak.
The region mostly suffered losses in November after gains in October, with stocks in Vietnam and Singapore leading the pack, off 5.6 percent and 4.8 percent respectively. The spectre of higher US interest rates and a potential easing stance by the European Central Bank at its meeting due on Thursday would keep investors in the region cautious, according to brokers in Bangkok and in the region.
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