SE Asia Stocks-Mixed; Indonesia down at near two-week low; Fed meet eyed
Oct 28 (Reuters) - Southeast Asian markets ended mixed on Tuesday with Indonesia falling to a near-two-week low as investors awaited the outcome of the U.S. Federal Reserve meeting that begins later in the session for clues to the direction of U.S. interest rates. The Jakarta Composite Index closed 0.5 percent weaker at its lowest since Oct. 16, recording a decline for a third straight session as the country's newly-appointed cabinet weighed on investor sentiment. Jakarta-based Trimegah Securities in a research note said Indonesian President Joko Widodo's cabinet has more political appointees than expected holding several important posts. Trimegah expects the market to remain sceptical and will need to see a sizable fuel price hike of 2,000 rupiah or more for the Jokowi government to regain the full confidence of investors. Foreign investors sold a net $52.46 million worth of Indonesian stocks on Tuesday, Thomson Reuters data showed. In other markets, investors were broadly concerned over the outcome of the Fed meeting. Singapore-based NetResearch Asia in a investor note said the Fed's post-meeting comments will be closely watched with observers divided as to whether there would be any change in its stance on interest rates and especially on any changes to the end date for the third round of quantitative easing. "Though some may cheer such a move, it would also signal to others that the Fed's grasp on economic indicators may not be as thorough as it should be, especially after recent assurances that plans are on track," it said. The Philippines and Singapore fell 0.5 percent each to one-week lows. Thailand, bucking the trend, gained 0.6 percent to its highest close since Oct. 9, despite foreign investors selling a net $71.53 million worth of shares, Thomson Reuters data showed. Malaysia recouped early losses to end marginally higher, while Vietnam rebounded on bargain-hunting. 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 Singapore 3211.65 3226.11 -0.45 Kuala Lumpur 1825.68 1823.15 +0.14 Bangkok 1556.53 1547.89 +0.56 Jakarta 5001.30 5024.29 -0.46 Manila 7066.74 7103.54 -0.52 Ho Chi Minh 583.13 580.80 +0.40 Change on year Market Current End 2013 Pct Move Singapore 3211.65 3167.43 +1.40 Kuala Lumpur 1825.68 1866.96 -2.21 Bangkok 1556.53 1298.71 +19.85 Jakarta 5001.30 4274.18 +17.01 Manila 7066.74 5889.83 +19.98 Ho Chi Minh 583.13 504.63 +15.56 (1 US dollar = 32.4500 Thai baht) (1 US dollar = 12,165.0000 rupiah) (Reporting by Shihar Aneez; Editing by Sunil Nair)
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