SE Asia Stocks - Mixed; Thai shares rebound ahead of holiday
BANGKOK, July 29 (Reuters) - Southeast Asian stock markets were mixed on Wednesday, with oversold Thai and Indonesian shares rebounding amid selective buying during an earnings season, while other markets were flat to weaker ahead of a policy decision by the U.S. Federal Reserve. The Thai SET index closed the day up 0.7 percent after a fourth straight loss on the previous day that sent the gauge deep into overbought territory. Its 14-day Relative Strength Index (RSI) was at 27.8 at the close versus 21.6 on Tuesday. A level of 30 or lower indicates an oversold condition. Siam Cement climbed 1.2 percent after the country's largest industrial conglomerate beat market expectations with a surge of 63 percent in quarterly net profit. "Execution of infrastructure projects will be a key boost to economic activity. The current index level is a good entry point to accumulate shares," said Juckchai Boonyawat, chief distribution officer at Manulife Asset Management. The Thai stock market will be closed on Thursday for a public holiday, reopening on Friday. The Jakarta composite index closed up 0.1 percent, with its 14-day RSI at 30.14 at the close from Tuesday's 29.18. Shares of airline Garuda Indonesia gained 5.9 percent after it swung to profit in the first half of 2015. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 3284.00 3281.09 +0.09 Kuala Lumpur 1698.99 1699.70 -0.04 Bangkok 1417.49 1408.07 +0.67 Jakarta 4721.12 4714.76 +0.14 Manila 7482.83 7479.03 +0.05 Ho Chi Minh 624.70 631.47 -1.07 Change on year Market Current End 2014 Pct Move Singapore 3284.00 3365.15 -2.41 Kuala Lumpur 1698.99 1761.25 -3.53 Bangkok 1417.49 1497.67 -5.35 Jakarta 4721.12 5226.95 -9.68 Manila 7482.83 7230.57 +3.49 Ho Chi Minh 624.70 545.63 +14.49 (Reporting by Viparat Jantraprap; Additional reporting by Satawasin Staporncharnchai; Editing by Prateek Chatterjee)
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