SE Asia Stocks-Most indexes rebound on bargain-hunting
June 10 (Reuters) - Most Southeast Asian stock markets recovered on Wednesday from over five-month lows on bargain hunting in beaten down shares, but concerns over an early U.S. rate hike and uncertainty about Greece's debt talks limited the gains. Indonesia's Jakarta Composite Index was up 1.3 percent at 0805 GMT after hitting over 11-month low in the previous session and Singapore traded 1.1 percent firmer after closing at the lowest level in five months on Tuesday. U.S. job openings surged to a record high in April, suggesting the Federal Reserve will raise interest rates sooner than expected as the world's largest economy was regaining speed, while lingering Greek debt fears continued to add volatility to the market. A depreciation in Asian currencies has also weighed on risky assets mainly in Indonesia, where the rupiah had fallen around 7.5 percent so far this year as of Tuesday. Thailand share index was up 0.9 percent as Bank of Thailand (BoT) held the benchmark interest rates after two surprise cuts. The index fell 1.1 percent in the previous session. "A modest rise in oil prices should lend some support to the market but the major downtrend remains firmly intact amid pressure from Greek debt woes and continued foreign sell-off in futures," Bangkok-based Phillip Securities said in a note. Thailand's large-caps recovered after MSCI's decision to delay the inclusion of China 'A' shares in one of its global benchmarks. Malaysia and Philippines rebounded from the previous session's five-month lows to trade 0.6 percent and 0.8 0.8 percent higher respectively. Bucking the regional trend, Vietnam's benchmark VN Index was down 0.1 percent, led by a fall in the banking sector. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0806 GMT Market Current Prev Close Pct Move Singapore 3323.74 3395.13 +0.87 Kuala Lumpur 1738.96 1729.05 +0.57 Bangkok 1505.36 1492.32 +0.86 Jakarta 4961.61 4899.88 +1.28 Manila 7384.27 7323.44 +0.83 Ho Chi Minh 574.10 574.47 -0.06 (Reporting by Shihar Aneez in COLOMBO and Viparat Jantraprap in BANGKOK; Editing by Anand Basu)
© Thomson Reuters 2016 All rights reserved.