SE Asia Stocks-Thai shares up on domestic funds; most others weak
BANGKOK, March 18 (Reuters) - Most Southeast Asian stock markets fell after range-bound session on Wednesday as investors awaited the Fed policy statement for clues on U.S. interest rates, but Thai index snapped a three-day losing streak amid institutional-led buying. The SET index closed up 1.2 percent, recovering after a third straight fall on Tuesday to a more than two-month low. Brokers said domestic institutions bought shares for their long only "trigger funds". Trigger funds, a type of mutual fund, automatically redeem after hitting their performance target. Banking shares and dividend-yielding stocks were among outperformers, led by state run Krung Thai Bank, Siam Cement and Kasikornbank. Stocks in Indonesia hit the lowest close in more than three weeks and Singapore finished at the lowest level since Jan. 21. Philippines and Vietnam both reversed from the gains on the previous day. European shares followed Asian stocks higher on Wednesday and the dollar held steady before a Federal Reserve meeting that's expected to lay the groundwork for the first increase in U.S. interest rates in nearly a decade. 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 3361.75 3369.95 -0.24 Kuala Lumpur 1797.57 1787.87 +0.54 Bangkok 1531.50 1512.84 +1.23 Jakarta 5413.15 5439.15 -0.48 Manila 7756.58 7789.10 -0.42 Ho Chi Minh 578.68 581.76 -0.53 Change on year Market Current End 2014 Pct Move Singapore 3361.75 3365.15 -0.10 Kuala Lumpur 1797.57 1761.25 +2.06 Bangkok 1531.50 1497.67 +2.26 Jakarta 5413.15 5226.95 +3.56 Manila 7756.58 7230.57 +7.27 Ho Chi Minh 578.68 545.63 +6.06 (Reporting by Viparat Jantraprap; Editing by Anand Basu)
© Thomson Reuters 2016 All rights reserved.