SE Asia Stocks - Most rebound; Thai index up as bank earnings in focus
BANGKOK, Oct 14 (Reuters) - Most Southeast Asian stock markets rose on Tuesday, recovering from losses in the previous session, with Singapore paring early gains after weak quarterly economic data, while select Thai banks gained in a quarterly earnings season. Singapore's Straits Times Index was up 0.2 percent at 3,209.30, coming off an intraday high of 3,211.66. Losses in bank stocks led by DBS Group Holdings partly shaved off gains in large-caps, including developer CapitaLand. Brokers said the rise in large-caps was due to bargain hunting after Monday's falls. Data showed Singapore's gross domestic product in the third quarter rose a weaker-than-expected 1.2 percent from the previous quarter, while the city-state's central bank stuck to its tight monetary policy as expected. The Thai key SET index edged higher, helped by selective buying. Shares of Tisco Financial Group rose 1.8 percent after the company's July-September net profit beat expectations. "The most positive aspect of its third quarter results was the continued surge in its net interest margin (NIM), thanks to a lower funding cost," broker CIMB Securities said in a report. Other Thai banks are due to report their quarterly results by next week. Jakarta's composite index was up 0.2 percent amid active buying in supermarket operator Matahari Putra Prima and Bank Mandiri. Investors broadly braced for a potential fuel price hike, brokers said. If the increase is 46 percent, or 3,000 rupiah per litre, which is in line with market expectations, sharemarket sentiment would be positive, Trimegah Securities said in a report. If the hike is only 1,500 rupiah, or less, the market may be weak, it said. "We think the big question for the next four weeks is fuel price hike: will it happen and how much?," it said. Among the weak spots, Philippine shares eased 0.3 percent to their lowest since Aug. 11, extending Monday's fall when worries about the global economic outlook led to foreign outflows from the region. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0457 GMT Market Current Prev Close Pct Move Singapore 3209.30 3202.15 +0.22 Kuala Lumpur 1798.21 1797.20 +0.06 Bangkok 1548.16 1542.35 +0.38 Jakarta 4923.14 4913.05 +0.21 Manila 6950.52 6968.09 -0.25 Ho Chi Minh 613.71 614.22 -0.08 (Reporting by Viparat Jantraprap; Additional reporting by Fransiska Nangoy in Jakarta; Editing by Prateek Chatterjee)
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