SE Asia Stocks-Rise; Indonesia rebounds ahead of rate decision
BANGKOK, Oct 15 (Reuters) - Southeast Asian stock markets rose in line with Asia on Thursday as weak U.S. economic data added to hopes a Fed rate hike will be delayed, with the Indonesian benchmark rebounding ahead of the central bank's policy meeting and Thai banks gaining ahead of results. The Jakarta composite index was up 1.1 percent at 1,420.73, reopening after Wednesday's holiday and after a fall to a one-week closing low on Tuesday. The upbeat market sentiment followed the rupiah which strengthened more than 3 percent, with Indonesia's central bank expected to keep its benchmark policy rate unchanged at 7.5 percent in a meeting later on Thursday. In Bangkok, buying interest in banking shares made the SET index touch a more than two-month high. Shares of Bank of Ayudhya jumped more than 10 percent at one point ahead of third quarter results due by next week, with analysts forecasting a strong quarterly earnings. "Investors will hold banking stocks for now, awaiting the third quarter earnings results from next Monday onwards. Earnings should beat estimates, thanks to efficient cost control and net interest margin," said Maybank Kim Eng Securities. Malaysia's key index earlier touched the highest since Aug. 6, extending Tuesday's seventh straight gain before it closed on Wednesday for a public holiday. Stocks in Singapore rose 1 percent, the Philippines recovered from a more than one-week closing low on Wednesday and Vietnam traded modestly higher. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0402 GMT Market Current Prev Close Pct Move Singapore 3014.86 2983.92 +1.04 Kuala Lumpur 1718.25 1711.14 +0.42 Bangkok 1420.73 1405.08 +1.11 Jakarta 4927.96 4483.08 +1.00 Manila 7010.32 6924.77 +1.24 Ho Chi Minh 590.45 589.98 +0.08 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)
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