SE Asia Stocks-Rebound; Indonesia gains after economic stimulus
Sept 30 (Reuters) - Southeast Asian stock markets were firmer on Wednesday after falling in the previous two sessions with Indonesia rising on a stimulus package, but concerns over weak outlook for commodities and China's economic growth weighed on risk appetite. Investors were cautious ahead of the release of China Caixin Purchasing Managers' Index (PMI) on Thursday and U.S. nonfarm payrolls on Friday. Indonesia's Jakarta Composite Index, which hit a two-year low on Tuesday, was up 0.5 percent by midday, led by financials after the announcement of a second package of economic stimulus measures in three weeks. "There likely could be some bargain hunting on the back of the rise in the Dow Jones, but this is likely to be within a tight range as investors are not convinced the markets have hit a low," Singapore-based Net Research Asia said in an investor note. Vietnam's benchmark VN Index rose by midday, snapping a two-day losing streak. Most Asian stock markets rallied after sliding to 3-year lows but concerns lingered over a weak outlook for commodities and China's economic growth. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0603 GMT Market Current Prev Close Pct Move Singapore 2789.57 2787.94 +0.06 Kuala Lumpur 1612.79 1603.32 +0.59 Bangkok 1352.57 1348.84 +0.28 Jakarta 4198.51 4178.41 +0.48 Manila 6865.08 6859.29 +0.08 Ho Chi Minh 565.14 561.19 +0.70 (Reporting by Shihar Aneez; Editing by Gopakumar Warrier)
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