SE Asia Stocks-Vietnam weak on lower dong; Philippines trims loss before rate decision
BANGKOK, June 19 (Reuters) - Stocks in Vietnam ended down 0.5 percent on Thursday, recovering most of their early losses weighed down by the central bank's small depreciation of the dong, while Philippine benchmark recouped some losses before an expected interest rate decision. Vietnam's VN Index dropped 2 percent in early trading on reports that China was moving a second oil rig in the South China Sea, analysts said. The State Bank of Vietnam (SBV) lowered the midpoint rate for trading its currency on the interbank market by 1 percent on Thursday to support exports, the key driver of the economy. The Philippine main index closed down 0.06 percent at 6,699.39, bouncing off an intraday low of 6,657.22. Philippine central bank kept its benchmark rate at a record low, but surprised markets by raising the rate on a short-term special deposit account facility (SDA) in a bid to contain liquidity growth that can fuel inflation pressures. The announcement came after the stock market close. Big caps performed mixed, with banking shares such as Metropolitan Bank & Trust ending down and telecommunications share such as Philippine Long Distance Telephone closing higher. Stock exchange data showed foreign investors sold shares for a fourth session, offloading a net 1.08 billion peso ($24.6 million). They sold a combined 905 million peso ($20.63 million) in three sessions to Wednesday. Sentiment in Southeast Asia was broadly positive after the U.S. Federal Reserve's decision delivered no surprises to the market. Malaysia's index hit a one-month high and Thai SET index snapped two days of falls. Asian shares rose on Thursday after the U.S. Federal Reserve gave a positive assessment of the economy and committed to keeping monetary policy accommodative. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 424.59 422.24 +0.56 Singapore 3269.02 3276.80 -0.24 Kuala Lumpur 1881.48 1876.58 +0.26 Bangkok 1461.91 1451.36 +0.73 Jakarta 4864.27 4887.86 -0.48 Manila 6699.39 6703.13 -0.06 Ho Chi Minh 567.35 570.03 -0.47 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 424.59 388.37 +9.33 Singapore 3269.02 3167.43 +3.21 Kuala Lumpur 1881.48 1866.96 +0.78 Bangkok 1461.91 1298.71 +12.57 Jakarta 4864.27 4274.18 +13.81 Manila 6699.39 5889.83 +13.75 Ho Chi Minh 567.35 504.63 +12.43 * The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. ($1 = 43.8600 Philippine Pesos) (Reporting by Viparat Jantraprap; Additional reporting by Mai Nguyen in Hanoi; Editing by Anand Basu)
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