SE Asia Stocks - Indonesia, Thai stocks up after inflation data
BANGKOK, Dec 1 (Reuters) - Southeast Asian stock markets rebounded amid strength in Asia on Tuesday, with soft inflation numbers and bargain hunting bolstering risk sentiment in Indonesia and Thailand. Jakarta's composite index climbed 1.7 percent, recovering some of its 2.5 percent drop on Monday when the overall stock market suffered its biggest net foreign selling in more than a month of 1.46 trillion rupiah ($105.84 million). Data early on Tuesday showed Indonesia's annual inflation rate eased significantly in November as the base for comparison was high due to an oil price hike a year earlier. Investors appeared bracing for the Indonesian central bank's easing stance although Bank Indonesia's governor remained cautious about the direction of U.S. rates. The Thai SET index was up 0.2 percent at midday after five straight days of falls, with gains led by tourism shares such as Airports of Thailand. Thailand's annual headline consumer prices slipped for an eleventh consecutive month in November, driven by lower oil prices, giving the central bank leeway to keep interest rates low to support a sputtering economy. Losers on the day included retailer CP All and Indonesian investment firm MNC Investama, which were among the list of deletions from MSCI's indexes in a semi-annual review, according to brokers in the region. "Foreigners will probably slow investment as they wait for the ECB meeting on Dec. 3," broker Maybank Kim Eng (Thailand) said in a report. Asian shares were solidly higher on Tuesday, shrugging off a Chinese factory survey that did little to ease concerns about cooling growth and taking some comfort from a private survey showing a glimmer of stabilisation. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0622 GMT Market Current Prev Close Pct Move Singapore 2875.58 2855.94 +0.69 Kuala Lumpur 1677.15 1672.16 +0.30 Bangkok 1361.80 1359.70 +0.15 Jakarta 4520.62 4446.46 +1.67 Manila 7042.98 6927.07 +1.67 Ho Chi Minh 573.42 573.20 +0.04 ($1 = 13,795.0000 rupiah) (Reporting by Viparat Jantraprap; Additional reporting by Fransiska Nangoy in Jakarta; Editing by Sunil Nair)
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