SE Asia Stocks -Indonesia up ahead of rate decision; Thai True Corp rallies
BANGKOK, Sept 11 (Reuters) - Southeast Asian stocks mostly edged up on Thursday, with Indonesian shares recovering ahead of the central bank's decision on interest rates, and the Thai benchmark index hovering near a more than 15-month high led by True Corp. Bank Indonesia (BI) is widely expected to hold its benchmark interest rate steady later in the day as inflation has eased and it's unclear if and when the incoming president will hike fuel prices to cut costly subsidies. Jakarta's Composite Index was up 0.4 percent after Wednesday's 1 percent fall. Interest rate-sensitive stocks were among the actively traded, with Bank Rakyat Indonesia up 0.9 percent, rebounding from a one-month closing low hit in the previous trading session. "BI will also announce its benchmark rate, which we expect to be maintained at 7.5 percent. In our last model portfolio revision, we had added lower beta stocks in preparation for a potential fuel price hike," broker Trimegah Securities said in a report. The Thai SET index edged up 0.4 percent at 1,588.97, shy of a more than 15-month high of 1,591.60 hit on Sept. 8. It closed 0.07 percent lower on Wednesday. Shares of True Corporation jumped 4.2 percent after a report said foreign strategic partner China Mobile Ltd is interested in expanding its investment in Thailand. Brokers expected the market to be rangebound due to global uncertainties. "Due to recent confusion about the timing of U.S. monetary policy change, upcoming key data like jobless claims and retail sales later this week and more importantly the tone of the U.S. Fed statement middle of next week could materially affect global stock markets," broker KGI Securities said in a report. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0701 GMT Market Current Prev Close Pct Move Singapore 3348.99 3338.63 +0.31 Kuala Lumpur 1870.75 1870.85 -0.01 Bangkok 1588.97 1582.13 +0.43 Jakarta 5162.95 5142.99 +0.39 Manila 7213.56 7212.78 +0.01 Ho Chi Minh 631.31 628.80 +0.40 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)
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