SE Asia Stocks - Mixed; Thai shares rebound ahead of holiday

miércoles 29 de julio de 2015 06:47 GYT

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
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 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)