SE Asia Stocks - Most retreat; Indonesia down after GDP data
BANGKOK, Nov 5 (Reuters) - Most Southeast Asian stock markets fell on Thursday as renewed rate hike talks and oil price volatility prompted investors to lock in quick profits, with Indonesia snapping three days of gains after lacklustre third-quarter economic data. Jakarta's composite index was down 0.7 percent, trimming some of the 3.5 percent gain over the past three days. Bank Rakyat Indonesia, the most actively traded, dropped 2.3 percent, on selling by domestic investors. Higher government spending helped Indonesia's struggling economy grow slightly faster in the third quarter, but not enough to show a real turnaround has begun. Bangkok's SET index was down 0.5 percent, reversing Wednesday's rise to a more-than-one-week high. Top energy firm PTT was down 1 percent after a three-day rally. Oil futures inched up on Thursday after losses the previous session on official figures showing a sixth consecutive week of inventory gains in U.S. crude stockpiles. Brokers in Bangkok expected a volatile market. "There could be profit-taking after a four-day rising streak. A rate hike signal in the Fed statement last night could also pressure overall sentiment," said broker Krungsri Securities in a report. Singapore's key Straits Times Index fell for the first time in three days while the Philippines extended losses for a second day to the lowest level since Oct. 22. Malaysia was little changed while Vietnam rose 0.8 percent, with gains in Vinamilk offsetting losses in most blue chips in volatile trade. Asian stocks ended a two-day rising streak on Thursday after top U.S. Federal Reserve officials kept the door open to a December interest rate hike. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0838 GMT Market Current Prev Close Pct Move Singapore 3023.16 3040.48 -0.57 Kuala Lumpur 1687.47 1685.62 +0.11 Bangkok 1416.96 1423.42 -0.45 Jakarta 4579.50 4612.57 -0.72 Manila 7122.45 7201.02 -1.09 Ho Chi Minh 615.18 610.60 +0.75 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)
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