SE Asia Stocks - Mostly steady-to-weaker; Indonesia underperforms

miércoles 25 de marzo de 2015 04:31 GYT
 

March 25 (Reuters) - Most Southeast Asian stock markets were
flat-to-weaker on Wednesday for a second day on global economic
worries after Chinese factory activity came in weaker than
expected with Indonesia underperforming the region on a fall in
the rupiah.
    Jakarta's composite index was down 0.7 percent at
0736 GMT due to a weaker local currency. 
    The weak rupiah against the U.S. dollar is still a concern,
said Andri Zakarias, an analyst with BNI Securities, adding that
foreign selling pressure is still seen in the stock market.
    The rupiah fell 0.47 pct on Wednesday, after having risen to
its highest in more than two weeks on Tuesday, partly as
uncertainty over the timing of U.S. interest rate hikes lifted
most emerging Asian currencies. 
    Activity in China's factory sector slid to an 11-month low
in March as new orders shrank, a private survey showed,
indicating the economy may need more policy stimulus.
 
    Vietnam's VN Index . was down over 1.1 on track for a
third straight session of losses, led by PetroVietNam Gas
, the country's top firm by market value.
    In Manila, the main index recovered from early losses
and was 0.1 percent up, but the gains were capped by investor
concerns over the monetary policy meeting on Thursday. 
    "Investors are taking precautions before the monetary policy
meeting tomorrow and we also expect the trend to continue due to
window dressing during the quarterly end," said Luis Limlingan,
head of sales at Manila-based Regina Capital. 
    "There are also concerns over the U.S. Fed rate hike
timing." 
    In Bangkok, the SET index was up 0.2 percent, a day
after it touched its lowest level since January.
    Singapore's key index headed for a flat session for
a third day, while Malaysia was up 0.2 percent.
      
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0759 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3420.22       3413.26       +0.20
 Kuala Lumpur       1818.21       1814.04       +0.23
 Bangkok            1519.83       1514.45       +0.36
 Jakarta            5405.40       5447.65       -0.78
 Manila             7836.34       7814.03       +0.09
 Ho Chi Minh         560.93        567.43       -1.15
 
 (Reporting by Shihar Aneez in COLOMBO and Fransiska Nangoy in
JAKARTA; Editing by Sunil Nair)