SE Asia Stocks-Malaysia snaps falling trend ahead of rate decision
BANGKOK, July 9 (Reuters) - Southeast Asian stock markets were mixed on Thursday, with the Malaysian benchmark ending three days of losses ahead of the central bank's decision to hold rates steady, while Indonesian large caps retreated amid selling led by foreign investors. Malaysia's central bank held its overnight policy rate at 3.25 percent on Thursday, as expected, keeping policy steady while the Southeast Asian nation and its markets were rocked by corruption allegations against Prime Minister Najib Razak. All 15 economists in a Reuters poll had estimated Bank Negara Malaysia (BNM) would leave the rate unchanged. The key Kuala Lumpur composite index rose 0.3 percent, with rate-sensitive banking shares showing mixed performance. Maybank rose 0.4 percent while Public Bank fell nearly 1 percent. In Indonesia, the Jakarta composite index fell 0.7 percent to 4,838.28, its lowest close since June 15. The country saw net foreign outflows of 483 billion rupiah ($36.23 million), with Bank Mandiri, Telekomunikasi Indonesia and Unilever Indonesia among the losers, Thomson Reuters data showed. Trading volume was light to moderate in the region, at 0.8-1.1 times a 30-day avarage as jitters persisted over instability in China and Greece. Major sharemarkets posted net foreign selling, including Malaysia's 148 million ringgit ($39 million) and the Philippines' 1.16 billion peso ($25.67 million), stock exchange data showed. World stocks snapped a five-day losing streak on Thursday, as Beijing halted a rout in Chinese stocks and the Federal Reserve signalled it might be too soon to raise U.S. interest rates. Vietnam's benchmark VN Index slipped 0.17 percent as falls in most blue-chips were cushioned by gains in several big-caps. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 3267.40 3284.99 -0.54 Kuala Lumpur 1701.54 1695.83 +0.34 Bangkok 1472.57 1470.25 +0.16 Jakarta 4838.28 4871.57 -0.68 Manila 7377.69 7363.43 +0.19 Ho Chi Minh 622.10 623.17 -0.17 Change on year Market Current End 2014 Pct Move Singapore 3267.40 3365.15 -2.90 Kuala Lumpur 1701.54 1761.25 -3.39 Bangkok 1472.57 1497.67 -1.68 Jakarta 4838.28 5226.95 -7.44 Manila 7377.69 7230.57 +2.03 Ho Chi Minh 622.10 545.63 +14.01 ($1 = 45.1960 Philippine pesos) ($1 = 13,332.0000 rupiah) ($1 = 3.7945 ringgit) (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)
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