SE Asia Stocks-Mostly down ahead of Fed, BOJ meetings; Jakarta leads
JAKARTA, April 26 (Reuters) - Most Southeast Asian stock markets fell for a second day on Tuesday, led by Indonesia, as cautious investors adopted a wait and watch approach ahead of central bank meetings in the United States and Japan later this week. Indonesia's Jakarta Composite Index was down 1.5 percent to a near two-week low at 0538 GMT, led by financial stocks, while poor earning expectations dragged large caps lower. Jakarta-based Trimegah Research said in a note it expects Indonesian conglomerate PT Astra International Tbk and heavy equipment distributor United Tractors to post disappointing earnings in the March quarter. Astra shares were down 2 percent while those of United Tractors fell 2.5 percent. Bank of Japan policymakers are likely to discuss further easing when they meet on Wednesday and Thursday. The U.S. Federal Reserve, which lifted its benchmark overnight interest rate in December for the first time in nearly a decade, meets on Wednesday. The Singapore share index fell 0.8 percent to a near two-week low, led by financial stocks. Malaysia's stock index was down 0.7 percent, while the Philippines Composite Index was 0.4 percent weaker. Bucking the trend, the Thai SET index was up 0.1 percent, while Vietnam's benchmark VN Index advanced 0.7 percent, led by gains in real estate stocks, following a slight correction in the previous session. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0539 GMT Market Current previous close Pct Move Singapore 2877.8 2900.28 -0.78 Bangkok 1410.68 1408.71 0.14 Manila 7220.23 7250.13 -0.41 Jakarta 4805.459 4878.862 -1.50 Kuala Lumpur 1702.08 1714.51 -0.72 Ho Chi Minh 595.84 591.58 0.72 (Reporting by Shihar Aneez; Editing by Anupama Dwivedi)
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