SE Asia Stocks-Mixed; Singapore, Thailand rebound in negative week
BANGKOK, Jan 8 (Reuters) - Southeast Asian stock markets were trading mixed on Friday, with beaten down Singapore and Thailand staging a mild rebound along with Asian shares but selling by foreign investors in select large caps pushed Indonesia to a more than two-week low. The Jakarta composite index was down 0.2 percent at 4,520.68, after earlier touching 4,507.41, the lowest since Dec. 23. Shares of Telkom Indonesia shed 2 percent and Semen Indonesia was down 1.1 percent, with foreign investors net selling both, Thomson Reuters Eikon data showed. Jakarta-based Trimegah Securities said it expected the index to continue weakening, with Friday's trading seen in the range of 4,500-4,563. BNI Securities said it expected pressure to linger from China share markets after Shanghai stocks fell more than seven percent and triggered a stock market circuit breaker on Thursday. "With lack of fresh sentiment in the market, it will be hard to keep the index from falling," it said in a report. Indonesia was on track for a weekly drop of 1.5 percent, its first in four weeks, in line with other Southeast Asian stock markets. Singapore was up 0.7 percent and Thailand was up 0.9 percent, both on course for a weekly drop of more than 4 percent. The Philippines was down 0.5 percent, poised for a weekly decline of more than five percent. Malaysia was up 0.2 percent, recouping early losses while Vietnam was down 0.7 percent, both set to fall more than two percent on the week. Asian shares, measured by MSCI's broadest index of Asia-Pacific shares outside Japan, rose 0.6 percent, led by strong gains for Chinese stocks after China suspended its market circuit breaker and set a firmer midpoint rate for trading of the yuan for the first time in nine days. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0534 GMT Market Current Prev Close Pct Move Singapore 2746.71 2729.91 +0.62 Kuala Lumpur 1658.97 1655.13 +0.23 Bangkok 1236.75 1224.83 +0.97 Jakarta 4520.68 4530.45 -0.22 Manila 6587.36 6618.88 -0.48 Ho Chi Minh 561.49 565.36 -0.68 (Reporting by Viparat Jantraprap; Additional reporting by Fransiska Nangoy in Jakarta; ; Editing by Biju Dwarakanath)
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