SE Asia Stocks-Mixed; Singapore rebounds on bargain hunting
BANGKOK, Aug 13 (Reuters) - Southeast Asian stock markets were mixed on Thursday, with shares in Singapore, Malaysia and Indonesia rebounding in line with regional currencies but investor sentiment remained broadly weak amid concerns over the yuan move. Singapore's Straits Times Index gained 1.2 percent after falling to a nearly 1-1/2-year closing low on Wednesday. The most actively traded stock, DBS Group Holdings Ltd , jumped 2.3 percent following selloffs over the last two trading days. Selective bargain hunting had partly helped the battered city-state bourse gain traction, but investors remained cautious over companies with China exposure, according to broker NRA Capital. "There will likely be some bargain hunting today though this is likely to be met with increased caution," it said in a report. "There's also talk of capital flight from Asian markets so the big buyers are unlikely to be there in force," it added. China's central bank said on Thursday that there was no basis for further depreciation in the yuan given strong economic fundamentals, in a bid to reassure jittery global markets after it devalued the currency earlier in the week. Malaysia's key index rebounded 0.9 percent from an almost three-year low close on Wednesday as the ringgit gained after central bank governor Zeti Akhtar Aziz said on Thursday that the bank did not see a need to peg the ringgit to any other currency. Indonesia, among recently battered markets, jumped 2.3 percent. Stocks in the Philippines extended losses for a second day while Vietnam shares dropped 1.4 percent as the Vietnamese dong weakened after the central bank moved to protect the country's exports. Thai stocks fell 1.1 percent as investors sold top energy firm PTT amid weak oil prices. Shares of airport operator Airports of Thailand erased early losses and rose 0.4 percent after the Thai Finance Minister said the yuan's devaluation would have only a minor impact on the tourism sector. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0755 GMT Market Current Prev Close Pct Move Singapore 3099.00 3061.49 +1.23 Kuala Lumpur 1624.34 1609.93 +0.90 Bangkok 1393.05 1408.32 -1.08 Jakarta 4581.94 4479.49 +2.29 Manila 7439.80 7495.43 -0.74 Ho Chi Minh 595.57 604.24 -1.43 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)
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