SE Asia Stocks -Most weak as investors await Fed; Thai shares rebound

miércoles 18 de marzo de 2015 04:15 GYT
 

BANGKOK, March 18 (Reuters) - Most Southeast Asian stock
markets fell on Wednesday as investors waited for the Fed policy
statement for clues on U.S. interest rates, with the Indonesian
benchmark heading for its first drop in three days while the
Thai index rebounded as dividend-yielding stocks led the pack.
    The Jakarta composite index traded down 0.4 percent
after rising for a second session on Tuesday on expectation that
the central bank would keep benchmark interest rates steady.
 
    Astra International eased 0.3 percent and Bank
Tabungan Negara dropped 2.2 percent after climbing in
the previous session.
    Market players appeared cutting risk positions in other
markets. Stocks in the Philippines slipped 0.4 percent
and Singapore was 0.2 percent lower. Vietnam 
edged down 0.5 percent after Tuesday's rise.
    Asian stocks shook off a slow start and rose, led by China
shares, while the dollar marked time as markets waited for the
Federal Reserve's policy statement for clues to when U.S.
interest rates will rise. 
    Market players are concerned the Fed will change its forward
guidance by omitting the word 'patient' as this could indicate
it will begin raising interest rates soon, brokers said.
    In Bangkok, bargain-hunting was active in dividend-yielding
stocks such as Krung Thai Bank, which carry a forward
dividend yield of 4.6 percent versus 4.1 percent of the
industry, Thomson Reuters Eikon data showed.
    The benchmark SET index climbed 1.1 percent, its
first in four days, with its 14-day relative strength index
(RSI) rebounding to 37.5 from 31.2 on Tuesday, close to an
oversold territory of 30 or below.
    The broader market remained relatively cautious, brokers
said.
    "For short-term strategy, it is best to play wait and see
ahead of the US FOMC meeting outcome tonight and until the SET
index builds a strong base," strategists at broker Phillip
Securities wrote in a report.
          
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0747 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3362.97       3369.95       -0.21
 Kuala Lumpur       1795.93       1787.87       +0.45
 Bangkok            1529.20       1512.84       +1.08
 Jakarta            5417.97       5439.15       -0.39
 Manila             7756.58       7789.10       -0.42
 Ho Chi Minh         578.68        581.76       -0.53
 
 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)