SE Asia Stocks-Indonesia weak before interest rate decision; Thai telecoms rebound

jueves 12 de junio de 2014 03:14 GYT
 

BANGKOK, June 12 (Reuters) - Indonesian shares edged lower
on Thursday as a rally in stocks of large-cap firms receded
ahead of the central bank's review on interest rates while
shares of large-cap Thai telecoms companies recovered from
recent losses.
    Bank Indonesia is expected to keep its benchmark policy rate
unchanged on Thursday to maintain economic growth amid growing
pressure on its exports, a Reuters poll showed. 
    Brokers expect near term volatility as market players also
looked forward to the outcome of a July 9 presidential election.
 
    "Market has been up as a response to Jokowi's rockstar
performance in the first debate on 9 June but may turn sideways
ahead of next debate on 15 June," said broker Trimegah
Securities in a report.
    Jakarta's benchmark composite index was down 0.75
percent, after two sessions of gains to two-week highs driven by
foreign inflows. 
    Foreign investors led the selling on Thursday in recently
rallying shares such as Telkom Indonesia and Bank
Central Asia, which fell more than 1 percent, Thomson
Reuters data shows.
    Shares of Astra International, the biggest firm by
market value, dropped 1.3 percent as they traded ex dividend.
 
    In Bangkok, shares of top telecoms operator Advanced Info
Service rose 0.9 percent and of no. 2 player Total
Access Communication edged up 0.4 percent, regaining
some of their recent losses.
    Shares of True Corp were flat. They rose about 17
percent over the past three days after a capital raising plan,
including a private placement to China Mobile which
analysts said strengthened its finances and competitiveness.
 
    The benchmark SET index was nearly flat at midday.
    Other major markets in Southeast Asia were range-bound as
Asian stock markets weighed in the risk of higher oil prices due
to growing violence in Iraq. 
    Vietnam's benchmark VN Index rose 0.2 percent, led by
gains in banking shares on market expectations the central bank
would cut the ceiling on deposit rates. 
    The Philippine stock market is shut on Thursday for a
market holiday and will reopen on Friday.
      
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0636 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   426.84        427.46       -0.14
 Singapore          3293.90       3290.04       +0.12
 Kuala Lumpur       1877.10       1878.38       -0.07
 Bangkok            1462.83       1463.71       -0.06
 Jakarta            4934.89       4971.95       -0.75
 Ho Chi Minh         571.50        570.36       +0.20
 * The Thomson Reuters South East Asia Index is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.    

 (Reporting by Viparat Jantraprap; Additional reporting by HANOI
bureau; Editing by Anupama Dwivedi)