SE Asia Stocks -Indonesia up ahead of rate decision; Thai True Corp rallies

jueves 11 de septiembre de 2014 03:52 GYT
 

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.

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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)