SE Asia Stocks-Most down, Singapore, Thai shares fall from closing highs
JAKARTA, April 20 (Reuters) - Most Southeast Asian stock markets fell on Wednesday, with the Singapore and Thai indexes dropping from their highest closing levels in months and Indonesian shares down ahead of a central bank policy meeting. Singapore's Straits Times Index fell 0.4 percent after closing the previous session at the highest level since November. Singapore Telecommunications Ltd led the decline with a 0.8 percent loss, erasing some of its 3.9 percent gain in the previous three consecutive sessions. Thailand's SET Index was down 0.1 percent, falling for the first time in six sessions, after ending Tuesday's session at its highest close since Nov. 4. "We maintain our view that SET's upside is limited, given stretched valuations. Our PE band analysis hints that SET Index may slow its momentum if it reaches 1,435 points," Rakpong Chaisuparakul of KGI Securities said in a note. Indonesia's main stock index fell 0.2 percent ahead of Bank Indonesia policy meeting on Thursday, where the central bank is expected to hold the benchmark rate steady. Malaysian stocks dropped 0.3 percent, while the Philippine index fell 0.1 percent, its fourth consecutive decline amid political uncertainty. Bucking the trend, Vietnam stocks rose 0.4 percent. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change 0447 GMT Market Current Prev Pct close move Singapore 2938.79 2951.81 -0.44 Kuala Lumpur 1706.83 1711.15 -0.25 Bangkok 1414.4 1416.00 -0.11 Jakarta 4870.36 4881.93 -0.24 Manila 7207.34 7215.09 -0.11 Ho Chi Minh 570.36 568.28 0.37 (Reporting by Fransiska Nangoy; Editing by Anupama Dwivedi)
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