SE Asia Stocks -Indonesia lead losses after Fed hint on rate hike
BANGKOK, Oct 29 (Reuters) - The benchmark Indonesian share index dropped 3 percent while most others in Southeast Asia fell more than 1 percent on Thursday, a day after the U.S. Federal Reserve hinted a rate hike was possible by year-end, fuelling more foreign selling in emerging stockmarkets. The Fed kept interest rates unchanged on Wednesday and in a direct reference to its next policy meeting put a December rate hike firmly in play. The Jakarta composite index finished the day at its lowest close in more than three weeks. Foreigners sold shares for a second day, sending Bank Rakyat Indonesia to a one-week low and Bank Mandiri down nearly 5 percent. Outflows brought indexes in Malaysia and Thailand to the lowest close since Oct. 6, with the Philippines hitting a one week low. Singapore extended losses for a third day to a more than two-week low. Vietnam's index, bucking the trend, posted its first gain in three days, up 1.5 percent partly due to positive corporate earnings. Indonesia posted net foreign selling worth 999 billion rupiah ($73.3 million), taking net outflows so far in the week to 7 trillion rupiah ($513.7 million), reversing the net inflows of 1.1 trillion rupiah ($80.7 million) of the week earlier, Thomson Reuters data showed. The overall Thai stock market saw net outflows of 2.89 billion baht ($81.23 million) while Malaysia and the Philippines recorded net outflows of 360 million ringgit ($83.85 million)and 1 billion peso ($21.29 million) respectively. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 3001.51 3040.51 -1.28 Kuala Lumpur 1666.98 1686.51 -1.16 Bangkok 1390.04 1409.26 -1.36 Jakarta 4472.02 4608.74 -2.97 Manila 7189.25 7289.26 -1.37 Ho Chi Minh 605.20 596.24 +1.50 Change on year Market Current End 2014 Pct Move Singapore 3001.51 3365.15 -10.81 Kuala Lumpur 1666.98 1761.25 -5.35 Bangkok 1390.04 1497.67 -7.19 Jakarta 4472.02 5226.95 -14.44 Manila 7189.25 7230.57 -0.57 Ho Chi Minh 605.20 545.63 +10.92 ($1 = 13,625.0000 rupiah) ($1 = 46.9790 Philippine pesos) ($1 = 4.2935 ringgit) ($1 = 35.5800 baht) (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)
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