SE Asia Stocks-Indonesia up as banks rise ahead of rate move
BANGKOK, May 18 (Reuters) - Indonesian stocks gained slightly on Monday as domestic investors bought beaten-down bank shares, ahead of the central bank's decision on interest rates on Tuesday, while the Thai index snapped a three-day rising streak on weak growth outlook for the domestic economy. The Jakarta composite index edged up 0.2 percent in moderate trading volume, which was 94 percent of a full-day average over the past 30 trading days. Shares of Bank Mandiri, Bank Central Asia and Bank Rakyat Indonesia all rebounded from losses on Friday, with domestic investors net buyers of the stocks, Thomson Reuters data showed. Foreign funds net sold shares on Monday. Indonesia's central bank is expected to hold its key policy rate steady at 7.50 percent at a meeting on Tuesday, with the policy decision expected after 0600 GMT. The Thai index eased 0.12 percent, giving up early gains and retreating from a more than one-week closing high on Friday after data showed better-than-expected quarterly economic growth for January-March but still pointed to a weak growth outlook. The market saw moderate selling by foreign investors worth a net 398 million baht ($11.95 million) while shares of broadcaster BEC World and Glow Energy were among top percentage losers on MSCI's index of Thailand . Trading volume for most exchanges in the region were slightly above two-thirds of a 30-day average amid weak sentiment in Asia on concern over the economy in the United States. Among outperformers, Malaysia recovered from early losses to end 0.6 percent higher, its highest closing level in two weeks. Vietnam fared worse than others, ending down 1.6 percent at a five-month closing low. 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 3459.57 3463.10 -0.10 Kuala Lumpur 1823.50 1811.92 +0.64 Bangkok 1510.41 1512.19 -0.12 Jakarta 5237.81 5227.09 +0.20 Manila 7910.43 7881.95 +0.36 Ho Chi Minh 528.95 537.44 -1.58 Change on year Market Current End 2014 Pct Move Singapore 3459.57 3365.15 +2.81 Kuala Lumpur 1823.50 1761.25 +3.53 Bangkok 1510.41 1497.67 +0.85 Jakarta 5237.81 5226.95 +0.21 Manila 7910.43 7230.57 +9.40 Ho Chi Minh 528.95 545.63 -3.06 ($1 = 33.3100 baht) (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)
© Thomson Reuters 2017 All rights reserved.