SE Asia Stocks-Indonesia leads regional rebound; Fed meeting in focus
BANGKOK, June 16 (Reuters) - Most Southeast Asian stock markets were flat to higher on Tuesday, with Indonesia rebounding from a 13-month low hit in the previous session, but moderate volume suggested markets remained wary of uncertainty over Greek debt and U.S. interest rates. The Jakarta composite index was up 1.1 percent, regaining some of the 2 percent drop on Monday. Trading volume was about 60 percent of the past 30-day average, similar to most other markets in the region. Shares of Bank Rakyat Indonesia and Telkom Indonesia led the rebound with gains of 3.5 percent and 2.5 percent, respectively. Indexes in Malaysia, Thailand and the Philippines all recovered from their weaknesses on Monday, partly reflecting concerns about a potential impact of higher interest rates in the United States. Strategists at broker Phillip Securities in Bangkok expected the Thai SET index to be rangebound for the day. "It seems to us that the Federal Reserve meeting and Greek default fears would remain a drag on sentiment in global equities in the near term," they wrote in a report. In Asia, stocks slipped as financial markets braced for the possibility of Greece defaulting on its debt, while a two-day policy meeting of the U.S. Federal Reserve's monetary committee starting later in the day also prompted caution. In Singapore, the key Straits Times Index fell 0.7 percent, extending losses from Monday and hovering around the low of 3,295.13 hit on June 9. Vietnam retreated after three sessions of gains to a three-month closing high on Monday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0735 GMT Market Current Prev Close Pct Move Singapore 3298.76 3323.13 -0.74 Kuala Lumpur 1721.93 1722.16 -0.01 Bangkok 1507.35 1501.89 +0.36 Jakarta 4888.57 4837.79 +1.05 Manila 7505.48 7456.16 +0.66 Ho Chi Minh 585.84 586.48 -0.11 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)
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