SE Asia Stocks-Indonesia falls 3 pct on weak rupiah; most others weak
BANGKOK, Oct 13 (Reuters) - Most Southeast Asian stock markets fell in line with weaknesses in Asia on Tuesday, with the Indonesian key index tumbling 3 percent as a rapid depreciation of the rupiah prompted profit taking but Thai property shares rose on hopes of stimulus measures. The Jakarta composite index dropped 3 percent to its lowest since Oct. 8, taking a breather after notching up about 10 percent gain over the past six sessions. The rupiah fell more than 1 percent tracking emerging-market currencies. Shares of PT Bank Rakyat Indonesia Tbk, the most actively traded by turnover, shed 6 percent amid foreign-led selling and cautions in a bank reporting season from this week. "For the overall sector, we expect weaker results with nine- month aggregate net profit of -6 percent year on year," broker Citi said in a report dated Oct. 12. Bangkok's SET index was down 0.5 percent, recouping some early losses. Investors selectively bought property shares seen relatively laggard on expectations of cabinet approval for property stimulus measures. "Cabinet meeting is set to approve a property stimulus package, but the news seems to be largely priced in," said broker KGI Securities in a report. In Singapore, investors took money off the table ahead of Wednesday's release of the city-state's third-quarter GDP and the central bank's policy meeting. The Philippine key index declined 1.7 percent after two days of gains and Vietnam slid 0.5 percent, its first in four sessions. Malaysia hovered in positive territory, regaining early lost grounds. Indonesia and Malaysia will be closed on Wednesday for a holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0517 GMT Market Current Prev Close Pct Move Singapore 3008.55 3032.11 -0.78 Kuala Lumpur 1710.98 1709.86 +0.07 Bangkok 1405.44 1412.49 -0.50 Jakarta 4490.00 4630.71 -3.04 Manila 7031.71 7150.29 -1.66 Ho Chi Minh 589.01 592.10 -0.52 (Reporting by Viparat Jantraprap; Additional reporting by Fransiska Nangoy in Jakarta; Editing by Subhranshu Sahu)
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