SE Asia Stocks - Mixed; Malaysian index at 5-week low
BANGKOK, Nov 11 (Reuters) - Southeast Asian stock markets were mixed on Wednesday, with the Malaysian benchmark hitting a five-week low on losses in banking shares but the Thai key index reversed early falls as better-than-expected quarterly earnings lifted select stocks. Kuala Lumpur's composite index was down 1.4 percent at 1,663.29, dragged down by shares of Hong Leong Bank and AMMB Holdings. It earlier fell to 1,657.88, the lowest since Oct. 7. Foreign investors have been lukewarm on building up risk holdings in the region on expectations of a U.S. Fed lift-off in December, with Malaysian banks among the large-caps that have taken a hit. Asian share markets drifted lower on Wednesday ahead of key data in China while strength in the U.S. dollar kept the screws on global commodity prices. In Bangkok, selective buying in shares such as CP All , which reported a quarterly net profit rise, helped the key SET index rebound. Maybank Kim Eng Securities maintained a 'trading buy' on CP All, citing the quarterly results and expecting the retailer to show ongoing growth in 2016. Buying by local funds was also supportive, according to KGI Securities. "While foreign equity outflows may remain, and weigh on conventional big-caps in energy and banking space, the market may be slightly supported by more solid institutional buying," the broker said in a report. Singapore's Straits Times Index and Jakarta's composite index were little changed. The Philippine index extended losses for a sixth day, with Bank of the Philippine Islands lower after posting third-quarter net income that was almost flat on year. Vietnam rose 0.2 percent after three days of losses. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0520 GMT Market Current Prev Close Pct Move Singapore 2991.67 2997.72 -0.20 Kuala Lumpur 1663.29 1686.11 -1.35 Bangkok 1400.86 1398.38 +0.18 Jakarta 4459.65 4451.05 +0.19 Manila 6970.53 7000.11 -0.42 Ho Chi Minh 606.62 605.27 +0.22 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)
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