SE Asia Stocks -Most up: Fuel policy worries limit Indonesian gains
Nov 12 (Reuters) - The main Indonesian stock index rose for a second session on Wednesday, led by shares of financial firms but uncertainty over the government's plan to raise fuel prices as a step towards cutting subsidy spending weighed on sentiment. Most other Southeast Asian markets were firmer, with energy shares lifting the Thai index while financial stocks boosted the Philippine and Vietnamese indexes. Jakarta's composite index rose 0.6 percent, extending the gains made over the last two sessions to more than 2 percent, after having lost 2.4 percent in the previous six sessions. Bank Negara Indonesia and Bank Mandiri rose 2.2 percent and 0.7 percent respectively. Shares of Telkom Indonesia rose 1.1 percent. Uncertainty over an expected fuel price increase weighed on sentiment after Indonesian President Joko Widodo last week said he had not decided on the timing, signalling a possible delay in cutting the massive fuel subsidies that are straining finances. In Bangkok, energy shares led the gains. Shares of top oil firm PTT rose 1.8 percent, helping the index gain 0.1 percent by midday. PTT's flagship in the upstream business, PTT Exploration and Production PCL (PTTEP), on Wednesday said it aimed to boost cash flow to $4 billion at the end of 2014 from $3.68 billion in 2013. Shares of PTTEP, Thailand's top oil and gas explorer, however, fell 0.7 percent. In Manila, financial stocks led the gains with a 1.9 percent rise each in Ayala Land and BDO Unibank. Vietnam's benchmark VN Index edged up 0.3 percent, helped by financial stocks. Bucking the trend, Singapore's Straits Times Index and Malaysia's main stock index fell 0.1 percent and 0.3 percent respectively. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0706 GMT Market Current Prev Close Pct Move Singapore 3290.08 3292.15 -0.06 Kuala Lumpur 1820.54 1825.11 -0.25 Bangkok 1572.30 1571.20 +0.07 Jakarta 5061.98 5032.28 +0.59 Manila 7239.85 7204.55 +0.49 Ho Chi Minh 605.79 604.23 +0.26 (Reporting by Shihar Aneez; Editing by Anupama Dwivedi)
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