SE Asia Stocks -Indonesia shares up; cbank holds meeting after fuel price hike
BANGKOK, Nov 18 (Reuters) - Major Southeast Asian stock markets rose on Tuesday, with the key Indonesian index touching a more than two-week high as the central bank held a meeting a day after a fuel price hike, while construction shares led a market rebound in Thailand. Jakarta's composite index was up 0.4 percent at 5,074.24 at 0555 GMT. It earlier hit 5,090.54, the highest since Nov. 3. Bank Indonesia convened an extraordinary meeting on Tuesday, fuelling speculation it will raise interest rates to deal with a potential rise in inflation after the government hiked subsidised fuel prices by more than 30 percent late on Monday. "We think there may be just enough reasons for the Bank Indonesia policy rate to stay put. Certainly, there are some risks for a 25 basis points rate hike as a response to the fuel price hike," DBS Group Research said in a report. Interest rate sensitive stocks traded mixed, with Bank Negara Indonesia down 1.3 percent while Bank Rakyat Indonesia and Bank Mandiri were unchanged, after erasing early gains. In Bangkok, shares of Italian Thai Development, advanced 6.3 percent and Ch Karnchang Pcl jumped almost 3 percent, taking the benchmark SET index 0.6 percent higher after two days of falls. "Today, the cabinet should consider MOUs for the dual-track railways, worth 400 billion baht, which are expected to be signed later this year. Ch Karnchang is one of the most outstanding performing contractors," Maybank Kim Eng said in a report. Singapore eked out small gains in a range-bound session, Malaysia recovered from five straight sessions of losses, the Philippines hit a two-week high and Vietnam was nearly flat. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 percent. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0555 GMT Market Current Prev Close Pct Move Singapore 3302.55 3288.67 +0.42 Kuala Lumpur 1811.03 1806.48 +0.25 Bangkok 1578.34 1569.07 +0.59 Jakarta 5074.24 5053.94 +0.40 Manila 7267.57 7229.72 +0.52 Ho Chi Minh 600.19 600.93 -0.12 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)
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