SE Asia Stocks-Rebound in low volumes; Singapore leads
BANGKOK, Nov 19 (Reuters) - Southeast Asian stock markets rose on Thursday as investors cautiously bought back battered shares amid strength in Asian stocks in early trade and Wall Street overnight but expectations of a possible U.S. Fed rate lift-off in December kept volumes thin. Singapore's Straits Times Index gained 1 percent after Wednesday's slide to a more than six-week closing low and near an oversold territory. Shares of DBS Group Holdings and Singapore Telecommunications led the rebound. The index's 14-day Relative Strength Index (RSI) was at 41 versus 34 at Wednesday's close. A level of 30 or lower indicates an oversold condition. Buying interest remained weak, with trading volumes down at 33 percent of the full-day average over the past 30 days. "Sentiment will be cautiously optimistic this morning in the wake of Wall Street's bounce but it is not likely to be euphoric given that the U.S. bourse has been erratic this week with its swings," broker NRA Capital said in a report. The Thai SET index, which also finished at a more than six-week closing low on Wednesday, rose 0.5 percent. The region appeared largely pricing in minutes of the previous U.S. Federal Open Market Committee which hinted at tightening at the December meeting, according to brokers in the region. Malaysia's index reversed the modest losses on the day before, Indonesia's index climbed to the highest since Nov. 9, and Vietnam edged up 0.2 percent after early small rises. The Philippine stock market was closed for a second day as Manila hosts a summit of the Asia Pacific Economic cooperation (APEC) forum. It will reopen on Monday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0455 GMT Market Current Prev Close Pct Move Singapore 2915.60 2886.08 +1.02 Kuala Lumpur 1658.97 1656.50 +0.15 Bangkok 1384.11 1376.82 +0.54 Jakarta 4520.18 4497.91 +0.05 Ho Chi Minh 604.32 603.34 +0.16 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)
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