SE Asia Stocks-Mixed; Thai index leads regional rebound
BANGKOK, Dec 15 (Reuters) - Southeast Asian stock markets were mixed on Tuesday, with battered telecoms shares leading the Thai index rebound while low trading volumes in the region suggested investors stayed at the sidelines awaiting the U.S. interest rate direction. Thai key SET index climbed 1.7 percent near midday, regaining some of the 5.5 percent drop over the past five trading days. The gauge remained in an oversold territory, with a 14-day Relative Strength Index at 23, with the level below 30 indicating an oversold condition. Advanced Info Service jumped 9 percent and Total Access Communication surged 12 percent on hopes the telecoms firms would be winning bidders of fourth-generation mobile spectrum in an auction on Tuesday. "Thai stocks are unlikely to recover strongly, as most traders continue to monitor two important events, the 4G spectrum auction for 900MHz and the decision of the U.S. FOMC on Fed Fund Rate," said broker KGI Securities in a report. Singapore's Straits Times Index was up 0.4 percent, trimming some early gains with data showing third-quarter jobless rate of 2.0 percent, unchanged from the preliminary estimate. Stocks in Malaysia, Indonesia and the Philippines were nearly flat while Vietnam rebounded 0.7 percent from the fall on Monday. Trading volumes in Singapore fell to about 44 percent of a full-day average over past 30 days, with most others relatively thin including Malaysia's 34 percent and the Philippines' 23 percent. Asian shares firmed on Tuesday, with gains limited by caution ahead of a widely anticipated U.S. interest rate increase by the Federal Reserve. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0458 GMT Market Current Prev Close Pct Move Singapore 2824.76 2815.04 +0.35 Kuala Lumpur 1629.70 1629.96 -0.02 Bangkok 1288.55 1267.61 +1.65 Jakarta 4373.70 4374.19 -0.01 Manila 6733.31 6745.99 -0.19 Ho Chi Minh 656.99 562.22 +0.67 (Reporting by Viparat Jantraprap; Editing by Gopakumar Warrier)
© Thomson Reuters 2017 All rights reserved.