* "Market's risk aversion interest on fire" - analyst
* Singapore sees worst session in over 5 months
* Indonesia hits lowest in 3 weeks
By Sameer Manekar
Jan 8 (Reuters) - Southeast Asian stock markets plunged on
Wednesday, as investors turned risk averse due to rising
tensions in the Middle East after Iran fired rockets at U.S.
forces in Iraq.
Singapore's benchmark index .STI declined as much as 1.7%,
marking its worst fall in a session in more than five months.
Losses in blue-chip stocks dragged the index, with
heavyweights DBS Group Holdings DBSM.SI and Jardine Matheson
Holdings JARD.SI losing 1.5% and 0.7%.
Tehran's missile attack early on Wednesday was in
retaliation to the U.S. drone strike last week that killed
Iranian commander Qassem Soleimani. "Retaliatory action taken by Iran in the face of the
on-going U.S.-Iran tensions sets the market's risk aversion
interest on fire," Jingyi Pan, market strategist at IG Asia
said.
"With expectations of further friction from here, investors
are appearing to be pricing for an all-out war."
In broader Asia, MSCI's index of Asia-Pacific shares outside
Japan .MIAPJ0000PUS was 1% lower shortly after China's share
markets began trading. MKTS/GLOB
The Philippine bourse .PSI fell most in over three weeks,
with financials and consumer sectors weighing on the index. BDO
Unibank BDO.PS slipped 1.3% and consumer food firm Universal
Robina Corp URC.PS fell 3.1%.
Malaysian stocks .KLSE were down 1%, dragged by
heavyweights like Public Bank PUBM.KL and Petronas Chemicals
Group PCGB.KL , which lost 1% and 0.8% each.
Banking and consumer sectors suffered heavy losses in the
Indonesian equities .JKSE , which hit its lowest in three
weeks. An index measuring the country's 45 most liquid stocks
.JKLQ45 dropped up to 1%.
Bank Rakyat Indonesia BBRI.JK was down 0.5% and Unilever
Indonesia UNVR.JK 0.9%.
Thai benchmark index .SETI lost as much as 1.5%, with
Airports of Thailand AOT.BK declining 1.7% and Kasikornbank
Pcl KBANK.BK falling 2.5%.
Real estate and financials weighed on Vietnam stocks .VNI ,
with Vinhomes Jsc VHM.HM and Bank for Foreign Trade of Vietnam
VCB.HM losing 1.1% and 1.3%.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0323 GMT
Market Current Previous close Pct Move
Singapore 3225.73 3247.86 -0.68
Bangkok 1562.46 1585.23 -1.44
Manila 7756.49 7840.7 -1.07
Jakarta 6244.08 6279.346 -0.56
Kuala Lumpur 1595.37 1611.04 -0.97
Ho Chi Minh 952.03 958.88 -0.71
Change so far in 2020
Market Current End 2019 Pct Move
Singapore 3225.73 3222.83 0.09
Bangkok 1562.46 1579.84 -1.10
Manila 7756.49 7,815.26 -0.75
Jakarta 6244.08 6,299.54 -0.88
Kuala Lumpur 1595.37 1588.76 0.42
Ho Chi Minh 952.03 960.99 -0.93