SE Asia Stocks-Mixed; Indonesia hits 7-week high

miércoles 19 de noviembre de 2014 06:24 GYT

JAKARTA, Nov 19 (Reuters) - Southeast Asian stock markets
ended mixed on Wednesday, with Indonesia extending gains after
its central bank unexpectedly increased rates to contain
inflationary pressure.
    Indonesia's benchmark stock index rose 0.5 percent,
its fourth daily gain, to its highest in seven weeks after Bank
Indonesia raised key interest rates by 25 basis points to 7.75
percent a day after the government raised price of subsidised
fuel by more than 30 percent. 
    "The main aim is to anchor inflation expectations going
forward more than anything. BI remains confident that
inflationary impact of the fuel price hike is only temporary,"
DBS Group said in a research note on Wednesday. 
    Shares of Indonesia's most valuable bank PT Bank Central
Asia Tbk rose 1.9 percent.
    Singapore's FTSE Straits Times Index led the
region, with a 0.6 percent gain as banks posted
better-than-expected third-quarter earnings, defying a weaker
economy, said broker Maybank KimEng.
    Shares of United Overseas Bank Ltd rose 0.7
percent as Maybank KimEng added it to the broker's top buy list.
    Thailand's main stock index fell 0.2 percent on
Wednesday after closing at its two-week high a day earlier.
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 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          3334.56       3313.73       +0.63
 Kuala Lumpur       1824.39       1818.38       +0.33
 Bangkok            1577.55       1581.27       -0.24
 Jakarta            5127.93       5102.47       +0.50
 Manila             7269.49       7275.66       -0.08
 Ho Chi Minh         588.35        594.25       -0.99
 Change on year
 Market             Current       End 2013    Pct Move
 Singapore          3334.56       3167.43       +5.28
 Kuala Lumpur       1824.39       1866.96       -2.28
 Bangkok            1577.55       1298.71       +21.5
 Jakarta            5127.93       4274.18       +19.9
 Manila             7269.49       5889.83       +23.4
 Ho Chi Minh         588.35        504.63       +16.6
 (Reporting by Fransiska Nangoy; Editing by Anand Basu)