SE Asia Stocks-Indonesia up before cbank rate decision
BANGKOK, Jan 15 (Reuters) - Southeast Asian stock markets rose on Thursday, with Indonesia rebounding from over three-week closing low hit in the previous session before the central bank meeting on interest rates, while bargain hunting lifted battered Thai banking stocks. Jakarta's composite index edged up 0.6 percent to 5,188.71, rebounding from Wednesday's close of 5,159.67, the lowest close since Dec. 23. Indonesia's central bank is expected to maintain its key interest rates at a policy meeting on Thursday, on anticipation that inflation will cool following a spike in late 2014. In Bangkok, the key SET index closed slightly higher at 1,523.38. Shares of Kasikornbank Pcl gained 0.9 percent after a third straight fall on Wednesday to a one-week low, while shares of Krung Thai Bank Pcl rose for the first time in five sessions. Recent losses in large-cap banking shares were due to expectations of unfavourable fourth quarter results. Banks are due to report their October-December earnings by next week. Analysts at broker Kasikorn Securities advised investors to buy banking shares, citing the prospect for earnings growth in 2015. It forecast 2015 GDP growth of 3.5 percent compared with a 2014 GDP growth of less than 1 percent. Stocks in Singapore posted their first gain in three days as Asian stocks mostly edged up on Thursday after a significant rebound in oil and copper prices brought a semblance of calm. Stocks in Malaysia and Vietnam ended slightly higher after the fall in the previous session. Philippine stock market is closed on Thursday and Friday for the visit of Pope Francis in Asia's most populous Catholic country. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 3338.84 3326.16 +0.38 Kuala Lumpur 1745.00 1742.01 +0.17 Bangkok 1523.38 1523.24 +0.01 Jakarta 5188.71 5159.67 +0.56 Ho Chi Minh 577.74 577.01 +0.13 Change on year Market Current End 2014 Pct Move Singapore 3338.84 3365.15 -0.78 Kuala Lumpur 1745.00 1761.25 -0.92 Bangkok 1523.38 1497.67 +1.72 Jakarta 5188.71 5226.95 -0.73 Manila -- 7230.57 +3.60 Ho Chi Minh 577.74 545.63 +5.88 (Reporting by Viparat Jantraprap; Editing by Anand Basu)
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