SE Asia Stocks-Mostly down, Indonesia falls from 10-mth high before polls

martes 8 de abril de 2014 04:28 GYT

April 8 (Reuters) - Most Southeast Asian stock markets edged
down on Tuesday, with Indonesian shares falling from a 10-month
closing high ahead of parliament polls amid its central bank
leaving the benchmark interest rate unchanged as expected.
    Jakarta Composite Index was down 0.2 percent at 0801
GMT after sharp gains with foreign inflows on Monday. It had
closed at its highest in 10 months in the previous session.
    Millions of Indonesians on Wednesday will vote to elect a
new parliament and a president three months later in a race that
could bring major changes to the way the world's third-largest
democracy is run.
    Many investors hope that an expected victory of the main
opposition Indonesian Democratic Party-Struggle (PDI-P), which
has consistently topped opinion polls, will attract more foreign
money into Southeast Asia's biggest economy. 
    Indonesia's central bank on Tuesday left its key reference
rate unchanged, as widely expected, with pressure easing from
both the current-account deficit and rupiah.
    The market has risen more than 15 percent so far this year.
    Investors hope opposition candidate Joko Widodo - the
favourite to win July's presidential poll - will restart stalled
reforms, making the world's fourth-most-populous nation a strong
contender for more investment.
    Gains in Indonesia's financial shares helped cushion the
    Shares of Indonesian building materials maker PT Wijaya
Karya Beton (WIKA Beton) rose as much as 50 percent in
their trading debut on Tuesday, signalling strong appetite for
infrastructure-related stocks. 
    Thailand's SET index was down 0.4 percent to trade
around its one-week low, Malaysian stock index lost 0.5
percent from a more than three-month high, and Philippines
shares shed 0.4 percent and fell from an over five-month high.
    Singapore bucked the trend and was up 0.6 percent
after falling for two sessions. 
    The gain was led by Noble, up 5.3 percent, after it said
China's largest grain trader COFCO Corp will buy a 51 percent
stake in the company's agribusiness for an initial $1.5 billion.
    Vietnam's benchmark VN Index was 0.5 percent up,
lifted by gains in several blue chips on dividend payment plans.
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 Change at 0803 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   417.33        415.60       +0.42
 Singapore          3210.78       3193.59       +0.54
 Kuala Lumpur       1853.96       1862.90       -0.48
 Bangkok            1386.30       1392.40       -0.41
 Jakarta            4912.12       4921.04       -0.18 
 Manila             6587.49       6614.40       -0.41
 Ho Chi Minh         603.25        600.57       +0.45
 (Reporting by Shihar Aneez; Editing by Joyjeet Das)