SE Asia Stocks - Falter amid Fed rate outlook

miércoles 10 de septiembre de 2014 01:40 GYT

BANGKOK, Sept 10 (Reuters) - Southeast Asian stock markets
fell on Wednesday as the prospect of sooner-than-expected U.S.
Federal Reserve rate hikes dented sentiment across Asia,
derailing rallying markets such as Indonesia, Thailand and the
    According to research published Monday by the San Francisco
Fed, investors expected the Fed to keep interest rates lower for
longer, and to raise them more slowly, than the makers of U.S
monetary policy themselves expect. 
    In Asia, MSCI's broadest index of Asia-Pacific shares
outside Japan was down 1.2 percent.
    Indonesia's composite index fell nearly 1 percent as
foreign outflows hit shares of large caps, sending Bank Central
Asia down 1.4 percent after a record close on Tuesday.
Telkom Indonesia, which hit a record high on Monday,
was among the losers.
    The index hit a record close of 5,246.48 on Monday as the
market priced in the benefits of a likely end to fuel subsidy.
    "There is rising chance that government will increase fuel
price in the fourth quarter of 2014," said broker Maybank Kim
Eng in a report.
    "Another fuel price hike will push inflation back to around
9 percent, but currency is likely to strengthen and interest
rate will only move up marginally from the current policy rate
of 7.5 percent," it said.
    The Thai key SET index was down 0.5 percent, while 
the Philippine main index eased 0.3 percent. Both marked
more than 15-month closing highs on Monday.
    The Thai stock market posted foreign inflows for a seventh
straight session on Tuesday amid confidence in the economic
    Brokers expect the market to be range-bound this week.
    Investors are awaiting clearer economic direction from Prime
Minister Prayuth Chan-ocha and his government, who have
scheduled to deliver policy in the National Legislative Assembly
on Friday.
    Shares of telecoms firm Jasmine International Pcl 
fell almost 3 percent amid concerns about a possible delay of
its planned listing of an infrastructure fund.
    It touched a six-week high on Tuesday after a favourable
court ruling.  
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 Change at 0455 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3337.87       3342.96       -0.15
 Kuala Lumpur       1869.13       1874.12       -0.27 
 Bangkok            1574.70       1583.18       -0.54
 Jakarta            5149.07       5197.12       -0.92
 Manila             7233.23       7253.67       -0.28
 Ho Chi Minh         626.95        626.92        0.00
 (1 US dollar = 32.1200 baht)

 (Reporting by Viparat Jantraprap; Editing by Prateek