SE Asia Stocks-Rangebound; Thai property shares up after measures
BANGKOK, Oct 14 (Reuters) - Southeast Asian stock markets were rangebound on Wednesday, with the Thai index rebounding on strong property shares due to stimulus measures, while Singapore's index drifted into negative territory after the central bank eased monetary policy. The Thai SET index rose 0.2 percent to 1,409.76, recovering from a modest loss on the day before. The property subindex was up 0.8 percent, a day after the Thai cabinet approved short term property measures. Weak sentiment in Asia and a market holiday of some major bourses in the region would cap any market rally, brokers said. "Key economic data out of global major economies that complicates the Federal Reserve's decision whether to raise interest rates and third-quarter earnings season in Thailand will remain the key factors," said Phillip Securities in a report. Thai banks, which will report third-quarter earnings from this week, were mixed. Krung Thai Bank was unchanged while Kasikornbank fell 0.8 percent. Singapore's key Straits Times Index traded 0.03 percent lower. Singapore's central bank eased monetary policy for the second time this year and warned of downside risks to growth after its economy narrowly avoided a recession in the third quarter. The Philippines was down 0.15 percent after an almost 2 percent drop on Tuesday. Vietnam's benchmark VN Index edged down 0.12 percent at the break on Wednesday, with losses in most shares offset by gains in several large caps after news that the government planned to sell its stakes in several companies. Asian shares tottered on Wednesday, extending losses after consumer inflation in China eased more than expected and heightened concerns about deflationary pressures in the world's second-largest economy. Malaysia and Indonesia both were closed for a market holiday, reopening on Thursday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0551 GMT Market Current Prev Close Pct Move Singapore 2984.05 2984.88 -0.03 Bangkok 1409.76 1406.69 +0.22 Manila 7002.72 7013.44 -0.15 Ho Chi Minh 590.13 590.84 -0.12 (Reporting by Viparat Jantraprap; Editing by Anand Basu)
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