On Monday, Malaysia's main index was lower at 2.4 % its largest one-day decline since September 2011, as fears about the country's upcoming electiontriggered selling in the recent gainers while flood-suffered Indonesia erased earlier gains to decline. Malaysia's Kuala Lumpur Composite index finished at 1,635.63, its lowest since Dec. 10, led decline by a 5 % losses in telecommunications operator Axiata Group Bhd and a 4 % loss in Digi.Com Bhd.
The selloff took the year-to-date decline to 3.2%, one of the Asia's worst performing markets and slipping near the oversold mark, with the 14-day relative strength index (RSI) at 31.87,
Its lowest in the region. The retail investors sold shares worth a net $7.27 million while the foreign investors sold a net $331,900, countering the net buying of $7.87 million by the local institutions.
Jakarta's Composite Index plunged 0.6 % at 4,439.97 after its record close of 4,465.48 on Friday. The major floods which hit Jakarta have increased concerns of a rise in the inflation.
Elsewhere in the region, the Philippine index rose 0.53 % at 6,171.70, setting its record finish for a ninth time in January. Thai SET index slightly up 0.4 % at 1,440.48, a 17-1/2 year of itsclosing high.
The Ho Chi Minh Stock Exchange's VN Index was down for a third session, closing down at 1.4 % at 447.79, its lowest close in almost two weeks. The investors took profits in the recent gainers such as financials.