Hanoi - Emerging-market stocks fell for a second day as Indonesia reported disappointing trade figures and an amnesty bill in Thailand spurred anti-government protests.
The rupiah and ruble weakened against the dollar.
PT Bank Rakyat Indonesia sank for a fifth day, sending the Jakarta Composite to a three-week low, as the nation’s currency slid 0.5 percent.
Airports of Thailand Pcl lost 1.9 percent in Bangkok.
African Bank Investments Ltd. fell to the lowest level in more than a month in Johannesburg after posting an 88 percent slump in earnings.
Chinese stocks rallied after a report showing the nation’s manufacturing exceeded estimates.
The MSCI Emerging Markets Index declined 0.3 percent to 1,031.69 as of 4:52 p.m. in Hong Kong, paring this week’s gain to 0.4 percent. Indonesia’s trade balance unexpectedly swung to a deficit in September, while Thailand’s biggest opposition party said as many as 50,000 people joined protests yesterday to oppose the amnesty law for political offenses.
The MSCI gauge is trading within 2 percent of a five-month high on October 22.
“As the market has been doing quite well, some investors are just taking profits,” said Giang Trung Kien, the Hanoi-based head of research at FPT Securities.
Nine of 10 industry groups in the MSCI emerging index retreated, led by telecommunication stocks.
The broader measure trades at 10.5 times projected earnings for the next 12 months, compared with 14 times for the MSCI World Index, according to data compiled by Bloomberg.
Indonesia’s Jakarta Composite index lost 1.4 percent, poised for the lowest level since since October 8, as Bank Rakyat dropped 3.2 percent.
Indonesia’s trade deficit was $657 million in September, compared with the $96 million surplus estimated by economists in a Bloomberg survey.
The yield on the nation’s 5.625 percent bond maturing in May 2023 increased 10 basis points to 7.5 percent.
Thailand’s SET Index sank 0.9 percent, while the baht weakened 0.2 percent and yields on the government’s 10-year notes increased to the highest level in five weeks.
Airports of Thailand lost 1.9 percent, headed for its lowest close since October 21.
The amnesty bill was passed by the lower house in a session that ended about 4:30 a.m. local time today.
Lawmakers from the opposition Democrat party staged a walkout, saying they weren’t given an opportunity to debate its most controversial sections.
Turkey’s Borsa Istanbul National 100 Index fell 0.6 percent, poised for the lowest close since October 14.
The lira slipped 0.1 percent against the dollar, while Russia’s ruble weakened 0.3 percent.
The FTSE/JSE Africa All Shares Index dropped 0.1 percent as African Bank fell 1.9 percent, heading for the lowest close since September 26.
The Shanghai Composite Index gained 0.4 percent.
The Hang Seng China Enterprises Index of mainland companies in Hong Kong and South Korea’s Kospi both advanced 0.5 percent.
China’s official manufacturing Purchasing Managers’ Index rose more than economists estimated to an 18-month high, while a measure from HSBC Holdings Plc and Markit Economics also topped projections.
HSBC’s reading for South Korea was above the expansion-contraction dividing line of 50 for the first time since May and Taiwan’s PMI rose to 53 from 52. - Bloomberg News