SE Asia Stocks-Most gain for second session; Thailand at over 2-wk high

jueves 11 de junio de 2015 01:53 GYT
 

June 11 (Reuters) - Most Southeast Asian stock markets rose
for a second session on Thursday helped by gains on Wall Street
with the Thai index trading at a more-than-two-week high. 
    However, speculation over an early rate hike by the U.S.
Federal Reserve along with a fall in some currencies like the
Indonesian rupiah and the Philippine peso kept investors
cautious. 
    Thailand's SET index was up 0.6 percent to its
highest since May 25 led by financials and energy stocks, a day
after the country's central bank held policy rates steady, 
while Singapore was up 0.6 percent at a one-week high. 
    The Philippine index gained 0.8 percent, rising for a
second straight session from a five-month low hit on Tuesday,
and Vietnam was up 0.9 percent with most shares rebounding in
robust trade after some profit-taking sessions. 
    The Jakarta Composite Index, however, bucked the
trend and was 0.1 percent down, led by state-controlled banks
after a report that they will halve lending rates for small
businesses.
    The index will be under pressure in the short term as
foreign investors are selling on speculation the Federal Reserve
will raise rates, weakness in the rupiah and the risk of rising
inflation, John Teja, director of Jakarta-based broker Ciptadana
Securities, said. 
    Shares of PT Bank Negara Indonesia were down 3
percent, PT Bank Mandiri fell 2 percent, and PT Bank
Rakyat Indonesia lost 2.4 percent. 
    Indonesia's rupiah has fallen around 7.5 percent so
far this year, while the Philippine peso hit more than
one-year low on Monday and investors are concerned it could hit
companies with huge exposures to forex debts and dollar costs.
    Positive economic data suggest the Federal Reserve will
raise interest rates sooner than expected as the world's largest
economy was regaining speed. 
            
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0525 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3346.70       3325.77       +0.65
 Kuala Lumpur       1734.72       1735.63       -0.05
 Bangkok            1513.04       1504.04       +0.60
 Jakarta            4928.12       4933.56       -0.11
 Manila             7445.88       7384.27       +0.83
 Ho Chi Minh         579.43        574.10       +0.93
 
 (Reporting by Shihar Aneez; Editing by Sunil Nair)