SE Asia Stocks-Indonesia hits over 1-wk closing high; banks rise
BANGKOK, June 17 (Reuters) - The Indonesian index hit a more than one-week closing high on Wednesday as bank shares rose ahead of the central bank's rate decision, while most others rose as investors waited for a signal from the U.S. Federal Reserve on its first rate hike. The benchmark Jakarta composite index climbed 1.5 percent to 4,945.75, the highest close since June 8. Bank Mandiri jumped 2.9 percent and Bank Rakyat Indonesia surged 4.3 percent, topping turnover for the day. Bank Indonesia is widely expected to keep its benchmark interest rate unchanged at 7.50 percent on Thursday due to continuing concerns about the country's inflation rate, frail currency and current account deficit. "This should be positive for big banks to gain momentum in loan growth, minimize against headwinds due to worsening loan quality and also help to maintain non-performing loans at manageable level," said John Teja, director of Ciptadana Securities. Asian shares rose from three-month lows on Wednesday as Chinese shares staged a comeback, and the dollar stayed static as investors waited for clues from a Federal Reserve meeting on when U.S. interest rates are likely to rise. Bucking the trend, Vietnam's benchmark VN Index ended the day down 0.26 percent, extending losses for a second straight day. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 3325.91 3298.09 +0.84 Kuala Lumpur 1726.86 1722.24 +0.27 Bangkok 1514.79 1503.28 +0.77 Jakarta 4945.75 4872.59 +1.50 Manila 7536.31 7505.48 +0.41 Ho Chi Minh 578.87 580.35 -0.26 Change on year Market Current End 2014 Pct Move Singapore 3325.91 3365.15 -1.17 Kuala Lumpur 1726.86 1761.25 -1.95 Bangkok 1514.79 1497.67 +1.14 Jakarta 4945.75 5226.95 -5.38 Manila 7536.31 7230.57 +4.23 Ho Chi Minh 578.87 545.63 +6.09 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)
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