Southeast Asia slides on Morgan Stanley ASEAN-4 downgrade, Syria concerns

|By:, SA News Editor

The JCI's Tuesday respite proves fleeting as Indonesian stocks (IDX, EIDO) fall 2.2% in Jakarta, more than erasing yesterday's gains.

Two factors likely weighed on regional shares. First, news that some key members of Congress will support President Obama's call for military action in Syria makes a strike look more likely. Second, Morgan Stanley has downgraded its 2013/2014 outlook for ASEAN-4 GDP growth to 4.5-4.6% from 4.8-5.3% citing, among other factors, "a more clouded outlook."

Across the region: Straits Times (EWS, EWSS) -1.3%, SET (THD, TTF, TF) -0.9%, PSEi (EPHE) -1.9%, KLCI (EWM) -0.4%