SE Asia Stocks-Mostly weak; Indonesia bucks trend
BANGKOK, Nov 18 (Reuters) - Most Southeast Asian stock markets fell in line with Asia on Wednesday, led by Singapore while Indonesia bucked the trend amid selective buying in banking shares after the central bank cut reserve requirement. Singapore's key Straits Times Index was down about 1 percent, reversing modest gains made in the previous session. Shares of Sembcorp Marine Ltd were among top losers, down almost 3 percent after client Marco Polo Marine terminated a jack-up rig contract. Trading volume in the city-state bourse was 44 percent of the full-day average over the past 30 days, while volumes in other bourses were in the range of 24 to 52 percent. The bourse is expected to continue to fall in low volumes amid lack of positive fresh factors, said broker NRA Capital in a report. In Jakarta, shares of Bank Rakyat Indonesia and Bank Negara Indonesia each rose almost 1 percent, outpacing the broader index which was up 0.3 percent. Deputy central bank Governor Mirza Adityaswara said on Tuesday the cut in statutory reserve requirements by Bank Indonesia will provide financial institutions with 18 trillion rupiah more in liquidity. Broker Mandiri Sekuritas Research maintained its 'neutral' call on the sector. "Under the current market condition, we doubt banks will use the opportunity to expand their loans as they are concentrating more on asset quality," the broker said. Indexes in Malaysia and Thailand both reversed gains made in the previous session. Thailand's top energy firm, PTT, lost almost 2 percent after HSBC's downgrade. Vietnam was a tad higher while the Philippine stock market is closed on Wednesday and Thursday as Manila hosts a summit of the Asia Pacific Economic Cooperation (APEC) forum. An index of Asian shares fell as another bomb scare in Europe hurt risk appetites in the wake of mounting expectations that the U.S. Federal Reserve will raise interest rates next month. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0640 GMT Market Current Prev Close Pct Move Singapore 2889.27 2916.78 -0.94 Kuala Lumpur 1659.18 1661.53 -0.14 Bangkok 1383.31 1390.17 -0.49 Jakarta 4514.47 4500.95 +0.30 Ho Chi Minh 605.41 605.05 +0.06 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)
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