SE Asia Stocks-Mixed; Thai shares rebound from six-month low
JAKARTA, Dec 17 (Reuters) - Southeast Asian stock markets traded mixed on Wednesday with Thai stocks rebounding from their lowest since June as the focus shifted to the central bank's policy rate meeting. The SET Index rose 0.9 percent, after declining 8.5 percent in the past six sessions, giving investors attractive stocks valuations, analysts said. "The Thai market is on a technical rebound," said Teerada Charnyingyong, an analyst with Phillip Capital in Bangkok. "The focus has shifted to the rate meeting today. There are some hopes of an interest rate cut, which would be positive for the stock market," she added. Most economists surveyed by Reuters expect the interest rate to remain unchanged, but with inflation at a five-year low of 1.26 percent in November, some analysts said the Bank of Thailand had room to cut rates. Indonesia's main stock index edged up 0.1 percent from a five-week low touched in the previous session after the rupiah hit a 16-year low. Trimegah Securities said in a research note on Wednesday that the correction earlier this week presented a buying opportunity in selected stocks. Shares of PT Impack Pratama Industri, an Indonesian packaging and building material company, jumped 50 percent on its trading debut on Wednesday. Singapore stocks extended their losses to a third day, falling 0.2 percent on Wednesday while the Philippine index fell nearly 2 percent. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change 0500 GMT Market Current Prev Close Pct Move Singapore 3209.71 3215.09 -0.17 Kuala Lumpur 1685.28 1673.94 +0.68 Bangkok 1474.57 1461.74 +0.88 Jakarta 5030.05 5026.03 +0.08 Manila 7020.29 7160.38 -1.96 Ho Chi Minh 528.80 535.14 -1.18 (Reporting by Fransiska Nangoy; Editing by Anupama Dwivedi)
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