SE Asia Stocks-Trade mixed as investors focus on corporate results
JAKARTA, April 28 (Reuters) - Southeast Asian stock markets traded mixed on Thursday as the U.S. Federal Reserve left interest rates unchanged while investors kept an eye on local corporate earnings. The Malaysian index fell 0.8 percent, dragged by shares of cigarette firm British American Tobacco Bhd which slumped as much as 8.5 percent, touching their lowest in over four years. The stock extended a 4.4 percent loss from the previous session after the company posted a 29 percent drop in quarterly earnings, prompting target price cuts by several brokerage firms. "The Fed meeting was a non-event, and both global and domestic markets continue to focus on fundamentals and earnings," said Dang Maulida, an analyst with KDB Daewoo Securities in Jakarta. The Fed left interest rates unchanged on Wednesday, but kept the door open to a hike in June while showing little sign it was in a hurry to tighten. Stocks in Singapore and the Philippines rose by 0.3 percent each, while the Indonesian index eased marginally. Shares of Indonesian brewer PT Multi Bintang Indonesia surged more than 16 percent, heading for their best day since Sept. 15, after first-quarter earnings more than doubled from a year ago. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change 0447 GMT Market Current Prev Pct move close Singapore 2884.65 2874.72 0.35 Kuala Lumpur 1678.48 1692.34 -0.82 Bangkok 1407.04 1411.84 -0.34 Jakarta 4838.57 4845.66 -0.15 Manila 7201.85 7180.53 0.30 Ho Chi Minh 595.15 593.96 0.20 (Reporting by Fransiska Nangoy; Editing by Sunil Nair)
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