BANGKOK: Indonesian shares posted their biggest loss in almost two months on Thursday as investors sold off large-caps while Thai shares fell for a third day as concerns about a sooner-than-expected rise in U.S. interest rates triggered selling across the region. Jakarta's Composite Index ended down 2.5 percent, its worst one-day fall since Jan. 27. The Top 45 large-cap stocks fell 3.3 percent, with the biggest losers including Bank Danamon and developer Summarecon Agung .

Optimism over Indonesia's election this year has bolstered sentiment in the share market. The sell-offs trimmed its year-to-date gain in U.S. dollar terms to 18.2 percent, but still retained its position as Asia's second best performer so far this year.

The Thai SET index fell 0.2 percent to its lowest close in more than one week, led by a 5 percent drop in shares of Charoen Pokphand Foods, partly due to profit-taking.

Foreign investors were net sellers of Thai shares for the first time in three sessions. The lifting of the emergency decree in Bangkok has attracted foreign buying over the past two sessions.

Malaysia closed nearly unchanged, reporting a net foreign selling of 143.5 million ringgit ($43.78 million) SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 399.33 405.92 -1.62 Singapore 3057.20 3080.75 -0.76 Kuala Lumpur 1818.17 1817.44 +0.04 Bangkok 1361.47 1364.27 -0.21 Jakarta 4698.98 4821.46 -2.54 Manila 6417.35 6462.49 -0.70 Ho Chi Minh 600.26 605.59 -0.88 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 399.33 388.37 +2.82 Singapore 3057.20 3167.43 -3.48 Kuala Lumpur 1818.17 1866.96 -2.61 Bangkok 1361.47 1298.71 +4.83 Jakarta 4698.98 4274.18 +9.94 Manila 6417.35 5889.83 +8.96 Ho Chi Minh 600.26 504.63 +18.95 * The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. ($1 = 3.2775 Malaysian ringgit) - Reuters

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Southeast Asia stocks: Indonesia leads regional loss on Fed rate hike concerns