SE Asia Stocks-Indonesia near 1-month high; others weak
BANGKOK, Nov 26 (Reuters) - Most Southeast Asian stock markets declined on Thursday, with Indonesia touching its highest level in nearly one month, led by Medco Energi Internasional, while the Philippines fell after third-quarter GDP data. The Jakarta Composite Index was up 0.7 percent at 4,616.22, after climbing at one point to its highest since Oct. 28. Medco shares, the biggest percentage gainers, surged 16 percent after news that the energy company was eyeing a majority stake in a unit of Newmont Mining Corp. Shares of Bank Mandiri jumped 3.6 percent and Telkom Indonesia gained 1.6 percent, amid foreigners' buying, Thomson Reuters data showed. Nomura said in a report dated Nov. 25 that it had a more positive bias on the Indonesian market heading into 2016, partly reflecting a higher likelihood of infrastructure delivery in the year. The Philippine index was down 0.02 percent. The Philippine economy grew slightly slower than expected in the third quarter but remains on track to be one of Asia's fastest growing economies this year, gross domestic product data released on Thursday showed. Stocks in Singapore, Malaysia, Thailand and Vietnam drifted lower in range-bound trading. Asian shares rose slightly after Wall Street put in a nearly flat performance ahead of the U.S. Thanksgiving holiday. "Investors may also hold back trade ahead of the year-end holidays. Eyes are on the ECB meeting, and the release of key U.S. indicators next week, which could affect the Fed's decision at the Dec. 15-16 meeting," said broker Krungsri Securities in Bangkok. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0712 GMT Market Current Prev Close Pct Move Singapore 2886.16 2891.58 -0.19 Kuala Lumpur 1682.70 1684.42 -0.10 Bangkok 1383.73 1381.46 -0.20 Jakarta 4616.22 4585.54 +0.67 Manila 7057.55 7059.14 -0.02 Ho Chi Minh 592.45 595.70 -0.55 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)
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