SE Asia Stocks-Mostly down; Indonesia recovers from 2 pct fall
Sept 29 (Reuters) - Southeast Asian stock markets were mostly weaker on Tuesday as investors awaited direction from key economic data later this week to assess the health of the global economy, while Indonesian shares recouped losses on stimulus hopes. The Jakarta Composite Index, which fell 2 percent to a two-year low earlier in the session, recovered and was up 0.11 percent at 0820 GMT. "Market is firmer now partly due to a technical rebound, since the market has posted losses for five consecutive days, and some expectation on the government's second instalment of stimulus package helps a little bit," said Harry Su, head of research at Bahana Securities in Jakarta. Chief economics minister Darmin Nasution said Indonesia will announce the second instalment of a stimulus package later on Tuesday aimed at supporting the rupiah and reviving growth in Southeast Asia's largest economy. Other markets traded mostly down ahead of key economic data. Japan's industrial production data is scheduled for Wednesday, China Caixin Purchasing Managers' Index (PMI) on Thursday and U.S. non-farm payrolls on Friday. Shares in Singapore Malaysia and Thailand were trading lower. Vietnam's benchmark VN Index fell on investor caution after a central bank rate cut, despite government data that showed the economy grew at its fastest pace in five years in the first nine months of 2015. Asian shares skidded to 3-1/2-year lows and the dollar sagged on Tuesday, pulled down by sharp losses on Wall Street after weak Chinese data rekindled worries about its fragile economy. The Philippine stock index, bucking the trend, was up 0.6 percent. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0817 GMT Market Current Prev Close Pct Move Singapore 2780.65 2791.92 -0.40 Kuala Lumpur 1601.30 1608.43 -0.44 Bangkok 1349.03 1352.13 -0.23 Jakarta 4225.00 4120.50 +0.11 Manila 6859.29 6815.59 +0.64 Ho Chi Minh 561.19 564.88 -0.65 (Reporting by Shihar Aneez and Fransiska Nangoy; Editing by Sunil Nair)
© Thomson Reuters 2016 All rights reserved.