SE Asia Stocks - Up after Fed minutes; Indonesia near 2-month high
BANGKOK, Oct 9 (Reuters) - Southeast Asian stock markets rose on Friday as minutes from the U.S. Federal Reserve's September meeting bolstered hopes of a Fed rate hike delay, with investors resuming buying of energy shares along with a rise in crude oil futures. Indonesia was an outperformer, with the broader Jakarta composite index up 2.5 percent at its highest since Aug. 11. It was on track for a weekly gain of more than 9 percent, the biggest since April 2009. Foreign buying lifted banking shares such as Bank Rakyat Indonesia and Bank Central Asia, while the rupiah jumped over 3 percent to its strongest in two months. Bangkok's SET index rose 1.5 percent, breaking above the key 1,400-point resistance, taking its gain on the week to almost 5 percent. "Near-term outlook of Asian inflows continues to improve after the U.S. FOMC minutes from the September meeting," said broker KGI Securities in a report. The Fed's comments damped down expectations of an imminent rate hike, giving a boost to Wall Street overnight and Asian shares in early trading. Thai explorer PTT Exploration and Production, which retreated on Thursday due to profit-taking, gained more than 3 percent as crude oil futures rose after an influential forecaster predicted that a market rally was not far off. Singapore's oil and gas service firm Keppel Corp. was up 3.5 percent while Vietnam's third-biggest firm by market value PetroVietnam Gas rose 1.7 percent. Indexes in the region are set for strong weekly gains, led by Singapore's 7.8 percent rise. Malaysia and Vietnam were both on track for a weekly gain of nearly 5 percent. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0506 GMT Market Current Prev Close Pct Move Singapore 3007.35 2947.03 +2.05 Kuala Lumpur 1709.73 1692.20 +1.04 Bangkok 1413.12 1392.15 +1.51 Jakarta 4604.96 4491.43 +2.53 Manila 7122.16 7106.79 +0.22 Ho Chi Minh 589.99 586.78 +0.55 ($1 = 13,300.0000 rupiah) (Reporting by Viparat Jantraprap; Editing by Sunil Nair)
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