SE Asia Stocks-Most up; Indonesia at 7-week high after rate hike

miércoles 19 de noviembre de 2014 02:47 GYT

HANOI, Nov 19 (Reuters) - Most Southeast Asian stock markets
rose by midday on Wednesday, with the benchmark Indonesian index
rising to its highest since Oct. 1 after the country's central
bank raised interest rates, while banking shares lifted the
Singapore index to a two-month high.
    Indonesia's main stock index was up 0.42 percent at
0551 GMT.
    Bank Indonesia on Tuesday raised its benchmark interest rate
by 25 basis points to 7.75 percent, moving quickly to contain
inflation after the government hiked fuel prices by more than 30
    Shares of Bank Central Asia Tbk PT led the gainers
with a 1.91 percent advance, followed by those of PT Kalbe Farma
, Indonesia's largest pharmaceutical company, which
rose 2.3 percent.
    Singapore's FTSE Straits Times Index rose to a
level unseen since Sept. 15 on gains in banking shares, with
midday volumes already hovering near the full-day level of the
previous session at 270 million shares, Reuters data showed.
    Banks in the city state are likely to have stronger earnings
per share ratios and benefit from potential fund inflows from
the oil and gas sector, said broker Maybank Kim Eng in a report.
    DBS Group Holdings Ltd and Oversea-Chinese Banking
Corp, Singapore's top two lenders, led the gains in
two-thirds of the benchmark equities, rising 1.23 percent and
2.05 percent respectively.
    Malaysia, the Philippines and Vietnam 
also advanced, while Thailand's SET Index was
range-bound after closing at a two-week high on Tuesday on an
optimistic outlook for the country's construction industry.
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 Change at 0551 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   425.62        425.01       +0.14
 Singapore          3332.63       3313.73       +0.57
 Kuala Lumpur       1824.88       1818.38       +0.36
 Bangkok            1580.29       1581.27       -0.06
 Jakarta            5123.65       5102.47       +0.42
 Manila             7284.56       7275.66       +0.12
 Ho Chi Minh         594.26        594.25        0.00
* The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.

 (Reporting by Mai Nguyen; Editing by Anupama Dwivedi)