SE Asia Stocks-Mixed after Fed stance; Singapore underperforms

jueves 11 de febrero de 2016 02:40 GYT

BANGKOK, Feb 11 (Reuters) - Southeast Asian stock markets
were mixed on Thursday, with Singapore extending slides in line
with Asia while the Indonesian benchmark headed for its first
gain in three sessions amid a rise in the rupiah and foreign-led
buying in select large caps.
    Singapore's Straits Times Index fell 0.9 percent
after Wednesday's 1.6 percent drop. Malaysia's key index 
dropped as much as 0.3 percent to a one-week low, while the Thai
index was a tad down, moving range-bound in early
    Trading activities were relatively light on most exchanges,
with Malaysia's share trading volume about 24 percent of the
full-day average over the past 30 days while the volume in the
Philippines was slightly above a third of the average.
    Investors seem to have stayed away after U.S. Federal
Reserve Chair Janet Yellen confirmed interest rates would be
hiked gradually this year and amid holidays in China for the
Lunar New Year. 
    "The bottom line is further fall in G-3 currency remains and
baht rise is on the way, helping limit the market loss," said
broker KGI Securities in Bangkok.
    Asian shares shed 1.4 percent as investors
sought the safety of Japanese yen, gold and top-rated bonds
while dumping U.S. dollars on bets the Federal Reserve could be
done raising interest rates. 
    Indonesia was among bright spots in the region as inflows
sent shares of Astra International higher by 4.4
percent to their highest level since July 1, 2015, helping the
broader Jakarta composite index reverse losses made in
the last two days.
    The rupiah hit a near four-month high, similar to
gains in most emerging Asian currencies, amid a fall in the
greenback after the Fed's policy stance. Indonesia's central
bank believed the rupiah is moving toward its fundamental level.
    Vietnam will remain closed through Friday for the
Lunar New Year holiday.
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  Change at 0609 GMT                                       
  Market              Current    previous close   Pct Move
  Singapore           2558.51    2582.1           -0.91
  Bangkok             1303.51    1304.74          -0.09
  Manila              6668.76    6637.48          0.47
  Jakarta             4772.312   4732.483         0.84
  Kuala Lumpur        1641.78    1644.41          -0.16
 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)