SE Asia Stocks -Indonesia shares up; cbank holds meeting after fuel price hike

martes 18 de noviembre de 2014 02:43 GYT

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
    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. 
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 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)