SE Asia Stocks -Indonesia leads regional gain amid Fed rate speculation

miércoles 17 de septiembre de 2014 02:38 GYT
 

BANGKOK, Sept 17 (Reuters) - Southeast Asian stock markets
rose cautiously on Wednesday amid speculation the U.S. Federal
Reserve would maintain low interest rates, with inflows lifting
select Indonesian shares such as Telkom Indonesia,
taking the index to a more-than one-week high.
    The Fed began its two-day policy meeting on Tuesday.
    U.S. stocks ended strongly overnight with participants
citing a report in the Wall Street Journal as indicating the Fed
could be less hawkish than markets have been expecting. 
    Indonesia was an outperformer. Jakarta's benchmark composite
index climbed 1.3 percent to 5,194.76, the highest since
Sept. 9.
    Telkom Indonesia shares jumped 2 percent, with net foreign
buying at about 64 billion rupiah ($5.36 million) at midday.
    Indofood Sukses Makmur gained 1.1 percent with net
foreign buying of 4.8 billion rupiah ($402,010).
    Brokers in the region said near-term risks remain and market
gains could be short lived.
    "As a country, Indonesia needs to prepare for the Fed rate
hike because a short-term reprieve would just be delaying the
inevitable in the end," said Harry Su, head of research at
broker Bahana Securities in Jakarta.
    "Obviously, Fed rate hike and the government's planned fuel
price hike would be negative for interest rate sensitive sectors
like banks, property and automotive while defensive sectors like
telcos and consumer have the tendency to perform better," he
said.
    Singapore's Straits Times Index was up 0.54
percent, rebounding from a more than two-month closing low hit
on the previous day. Stocks in Thailand and Vietnam
 were a tad higher while Philippine shares rose for
a second day.
    Singapore-based broker NetResearch Asia said in a report it
expects sentiment in Asia could turn again if a statement from
the Fed, expected later on Wednesday, runs contrary to market
hopes that rates could stay low for a 'considerable long time'.
    In Bangkok, interest rate sensitive stocks were mixed on
expectations that Thailand's central bank would leave its main
interest rate steady at 2 percent later in the day.
 
    Shares of Bangkok Bank jumped 2.4 percent and
Kasikornbank gained 1.3 percent. Property developer
Land & Houses fell nearly 2 percent and Pruksa Real
Estate was down 1.5 percent.

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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0554 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3288.68       3272.62       +0.49
 Kuala Lumpur       1843.62       1847.30       -0.20
 Bangkok            1569.57       1565.41       +0.27
 Jakarta            5194.76       5130.50       +1.25
 Manila             7223.42       7180.34       +0.60
 Ho Chi Minh         628.48        627.66       +0.13
 (1 US dollar = 11,940.0000 rupiah)

 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)