SE Asia Stocks - Indonesia up amid fuel price hike talks, Malaysia on steady rates

viernes 19 de septiembre de 2014 04:54 GYT

BANGKOK, Sept 19 (Reuters) - Indonesian shares hovered near
a two-week high on Friday, heading for the best weekly gain in
more than two months, amid expectations of a cut in fuel
    Most other sharemarkets in Southeast Asia also edged higher
in line with the rest of Asia. 
    Jakarta's composite index <.JKSE), which tracks 30 large-cap
stocks, was up 0.7 percent at 5,246.25, the highest since Sept.
9. The index has gained 2 percent so far on the week, the
biggest since the week ended July 11.
    Among the actively traded stocks, retailer Matahari Putra
Prima and Bank Rakyat Indonesia each rose
almost 3 percent, while Telkom Indonesia jumped 4
percent. Foreign investors led the buying, Thomson Reuters data
    Indonesia's new government plans to hike the price of
subsidised fuel by as much as 3,000 rupiah per litre by November
to reduce its budget deficit and allocate more funds for fixing
its infrastructure bottlenecks, policymakers said on
    "Once executed, this will send a strong signal that the
Jokowi administration will push ahead on further structural
reform. We view this as a very positive move for the long run,"
broker Maybank KimEng Indonesia said in a report.
    Malaysia's key stock index was up 0.4 percent amid
active buying in shares of Public Bank and Tenaga
Nasional, with the central bank's decision to maintain
key interest rate supportive to market sentiment.
    The region is set to end the week mixed. Singapore 
is on track for a 1 percent fall on the week amid weakness in
property shares, while Malaysia is poised for a modest 0.2
percent loss and Vietnam a 2.5 percent drop. Thailand
 is on course for a 0.5 percent gain.
    Philippines, which is shut on Friday due to a
tropical storm, posted a weekly gain of 1.2 percent, rebounding
from a 0.9 percent fall in the previous week. 
    MSCI's broadest index of Asia-Pacific shares outside Japan
 added about 0.1 percent on Friday, supported by
Wall Street's strong showing overnight. 
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 Change at 0755 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3306.31       3297.29       +0.27
 Kuala Lumpur       1853.00       1845.32       +0.42
 Bangkok            1588.52       1584.23       +0.27
 Jakarta            5246.25       5208.14       +0.73
 Ho Chi Minh         613.29        615.80       -0.41
 (Reporting by Viparat Jantraprap; Additional reporting by
Fransiska Nangoy in JAKARTA; Editing by xxxx)