SE Asia Stocks - Indonesia leads regional gains; Thai banks up on results
BANGKOK, Oct 15 (Reuters) - Southeast Asian stock markets were mostly higher on Wednesday, with the Indonesian benchmark extending gains for a second session although caution remained over the issue of fuel subsidy, while some Thai banks rose amid quarterly earnings. Jakarta's composite index rose almost 1 percent amid mixed fund flows into large-caps. It ended 0.2 percent higher in the previous session. Shares of Telkom Indonesia were up 2.9 percent, with foreign investors buying a net 147 billion rupiah ($12 million). Bank Rakyat Indonesia, Bank Mandiri and Bank Negara Indonesia fell amid foreign-led selling. Broker Trimegah Securities said in a report it expected the market to continue its rebound on Wednesday, but added that a sizable fuel price hike would be needed to signal a sustainable strengthening of the index. Bangkok's SET index rose 0.5 percent, adding to Tuesday's gains. Bank stocks led the gains, including TMB Bank after it reported a 27 percent surge in quarterly earnings. State-run Krung Thai Bank was among the outperformers, up almost 1 percent. Broker Maybank KimEng Securities said it expected the bank to post a 3 percent year-on-year growth in quarterly earnings. Stocks in Singapore and the Philippines gained modestly, while Malaysia and Vietnam drifted into negative territory. Asian stocks regained a semblance of stability on Wednesday following days of steep losses, but sentiment remained fragile as benign Chinese inflation data and gloom in the euro zone economy added to signs of a faltering global economic recovery. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0807 GMT Market Current Prev Close Pct Move Singapore 3206.09 3194.40 +0.37 Kuala Lumpur 1789.07 1796.38 -0.41 Bangkok 1553.75 1546.78 +0.45 Jakarta 4966.24 4922.58 +0.89 Manila 6991.19 6946.06 +0.65 Ho Chi Minh 604.29 605.79 -0.25 (1 US dollar = 12,220.0000 rupiah) (Reporting by Viparat Jantraprap; Editing by Prateek Chatterjee)
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