SE Asia stocks mostly down on global woes

Banking stocks drag Indonesia index 0.6% down, while Singapore ends 0.5% weaker. Malaysia also edges down 0.04%

Most Southeast Asian stocks ended weaker on Monday with Singapore and Indonesia falling to their two-week lows led by financials as weak US job data and concerns over Europe dented investors' appetite for risky assets.

Banking stocks dragged the Indonesia index 0.6 per cent down, while Singapore ended 0.5 per cent weaker, both closing at their two-week lows. Malaysia also edged down 0.04 per cent.

"Worries over possible risks from the United States after the weak job data and Europe are the reasons for the fall," said Song Seng Wun, an economist at CIMB, based in Singapore.

DBS Group Holdings Ltd, Singapore's largest lender, and Oversea-Chinese Banking Corporation Ltd fell 1.3 per cent and 0.8 per cent respectively, while Indonesia's Bank Central Asia Tbk PT dropped 3.2 per cent.

In Singapore, Global Logistic Properties Ltd (GLP) , which owns warehouses in China and Japan, jumped 3 per cent after Japanese stocks soared. Bucking the trend, Vietnam gained 0.8 percent led by blue chips and the Philippines edged up 0.1 percent.

The Thailand stock market, which fell 2.6 percent on Friday, was closed for a holiday on Monday.