SE Asia Stocks-Most weaker, Singapore property shares fall after data

Southeast Asian stock markets retreated on Monday as weak data out of China dented sentiment across Asia,with property shares such as CapitaLand Ltd underperforming in Singapore after weak sales data for August.

China's factory output grew at the weakest pace in nearly six years in August while growth in other key sectors also cooled, raising fears the world's second-largest economy may be at risk of a sharp slowdown unless Beijing takes fresh stimulus measures.

The Straits Times Index was down 0.4 percent to 3,330.75, with CapitaLand shares sliding more than 1 percent to a two-month low, the third worst performer on the benchmark, and Keppel Land's shares fell on strong volume.

Data early on Monday showed sales of private homes by developers in Singapore in August were down 43 percent from a year earlier, following the introduction in June 2013 of property cooling measures that restricted levels of borrowing relative to monthly income.

In Bangkok, players cashed in on recent gainers such as telecommunications firm True Corp and builder Ch Karnchang, sending the key SET index 0.2 percent lower.

Interest rate sensitive stocks such as property developers rose amid expectations Thailand's central bank will leave its main interest rate steady at 2 percent on Wednesday and for the rest of the year.

"The government is set to frontload its budget spending under Fiscal year 2015, which comes into effect starting October. An accommodative monetary policy is presumably necessary during this initial stage," DBS Group Research said in a report.

Investors in the region awaited the U.S. Federal Reserve meeting on Wednesday for indications on U.S. monetary policy and fund flows to the region.

Malaysia was down 0.4 percent, falling 1 percent at one point to the lowest since March 27. Malaysia will be shut for a holiday on Tuesday, reopening on Wednesday. The Philippines eased 0.6 percent to the lowest since Sept. 3, while Vietnam was down 0.3 percent.

MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.9 percent to levels last seen on Aug. 8.

Change at 0755 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3330.75       3345.55       -0.44
 Kuala Lumpur       1848.59       1855.64       -0.38
 Bangkok            1578.96       1581.36       -0.15
 Jakarta            5140.00       5143.71       -0.07
 Manila             7161.27       7201.88       -0.56
 Ho Chi Minh         630.34        632.50       -0.34

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SE Asia Stocks-Most weaker, Singapore property shares fall after data

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