SE Asia Stocks-Mostly up; Jakarta down on political concerns
Oct 30 (Reuters) - Jakarta shares ended weaker on Thursday on political concerns while most other Southeast Asian stock markets rose, with some trading range-bound, after the U.S. Federal Reserve expectedly ended its massive quantitative easing programme. The Jakarta Composite Index edged down 0.3 percent after gaining 1.5 percent in the previous session as a vote on Indonesian parliament commission leaders weighed on sentiment. Bucking the trend in the overall market, shares of Indonesian palm oil companies gained on an expected increase in palm oil prices and strong earnings, traders said. Shares of PT Astra Agro Lestari Tbk rose as much as 9.1 percent, PT London Sumatra Indonesia Tbk gained 3.99 percent and PT Salim Ivomas Pratama Tbk rose 3.3 percent. Palm oil prices may have bottomed out and will likely trade between 2,100 and 2,300 ringgit per tonne ($641-$703) in the next few weeks before rising to 2,500 ringgit by March as output weakens and stocks ease, an analyst said. Thailand's SET index ended 0.2 percent up at its four week high, the Philippine index gained 1.1 percent, and Malaysia ended 0.1 percent firmer. Singapore gained 0.32 percent. Jakarta saw a net foreign inflow of $21.05 million, Thomson Reuters data showed, while Kuala Lumpur saw $30.52 million inflow, the stock exchange data showed. Teerada Charnyingyong, a strategist at broker Phillip Securities, said gains were slow after the Fed decision though it was expected. The U.S. Federal Reserve on Wednesday ended its monthly bond purchase program, which at its peak pumped $85 billion a month into the financial system. It also signalled confidence the U.S. economic recovery would remain on track despite signs of a slowdown in many parts of the global economy. Vietnam retreated to end 0.35 percent weaker as investors took profit and low liquidity showed weak appetite. 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 3234.31 3224.11 +0.32 Kuala Lumpur 1842.78 1839.55 +0.18 Bangkok 1565.35 1562.67 +0.17 Jakarta 5058.85 5074.06 -0.30 Manila 7170.99 7093.31 +1.10 Ho Chi Minh 589.14 591.20 -0.35 Change on year Market Current End 2013 Pct Move Singapore 3234.31 3167.43 +2.11 Kuala Lumpur 1842.78 1866.96 -1.30 Bangkok 1565.35 1298.71 +20.53 Jakarta 5058.85 4274.18 +18.36 Manila 7170.99 5889.83 +21.75 Ho Chi Minh 589.14 504.63 +16.75 ($1 = 12,120.0000 rupiah) ($1 = 3.2875 Malaysian ringgit) (Reporting by Shihar Aneez in COLOMBO, Fransiska Nangoy and Eveline Danubrata in JAKARTA; Editing by Gopakumar Warrier)
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