SE Asia Stocks-Rebound; Indonesia's interest rate decision in focus
BANGKOK, Nov 17 (Reuters) - Southeast Asian stock markets rebounded on Tuesday, tracking stronger Asian shares and U.S. stocks overnight as short-term bargain hunting flagged across exchanges, while positive economic data in the region underpinned sentiment. Singapore Straits Times Index reversed the seventh straight loss on Monday, trading up 0.5 percent. Battered large caps recovered, led by shares of Singapore Telecommunications Ltd and United Overseas Bank Ltd. Data showed Singapore exports fell less than expected in October as sales to Europe rebounded modestly, but underlying shipments remained weak amid sluggish global demand and look set to drag on the trade-dependent economy. Broker NRA Capital in the city-state expects small market gains on the day. "Sentiment is still bruised and cautious given recent volatility and the spectre of a likely interest rate hike next month. Economic data from the U.S. thus far has been lending support to the argument that the hike is overdue," it said. Indonesia's Jakarta composite index was up 1.4 percent, erasing Monday's 0.7 percent fall, ahead of the central bank's meeting on interest rate later on the day. The central bank is expected to maintain the benchmark interest rate at 7.50 percent. The Thai SET index was up 0.3 percent after a modest gain on Monday driven by domestic mutual funds and after third-quarter GDP surprised to the upside. Index in the Philippines climbed 1.4 percent. It was the worst performer on Monday after Friday's attacks in Paris fuelled further outflows from emerging markets. Vietnam also bounced back from Monday's weakness, edging up 0.2 percent. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0408 GMT Market Current Prev Close Pct Move Singapore 2930.48 2915.73 +0.51 Kuala Lumpur 1666.68 1656.00 +0.64 Bangkok 1392.31 1388.62 +0.27 Jakarta 4505.16 4442.18 +1.42 Manila 6866.54 6772.92 +1.38 Ho Chi Minh 610.47 609.21 +0.21 (Reporting by Viparat Jantraprap; Editing by Anand Basu)
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