SE Asia Stocks -Most up; Thai index dips on selling in bank shares
BANGKOK, March 10 (Reuters) - Most Southeast Asian stock markets rebounded on Tuesday as bargain hunting emerged in battered large caps, but Thai shares were headed for a second session of decline, a day before the central bank's interest rate meeting. The Thai SET index was down 0.5 percent, with banking shares sliding 0.9 percent. Investors were broadly cautious about a possible monetary policy easing by the Bank of Thailand, according to local brokers. "Traders are waiting for the Thai MPC's decision tomorrow on whether it will cut policy interest rate," strategists at broker KGI Securities wrote in a report. Prime Minister General Prayuth Chan-ocha said on Tuesday Thailand should not rush to cut interest rates, backing market expectations that the central bank will leave policy unchanged at Wednesday's meeting. Singapore's key Straits Times Index was nearly flat, with shares of Oversea-Chinese Banking Corp recovering from Monday's loss and rising 0.6 percent. Shares of Malaysia-listed Public Bank inched up 0.1 percent, recovering from a more than one-week low hit in the previous session. Indonesia-listed Bank Mandiri's shares jumped 2 percent, coming off Monday's near three-week closing low. Asian stocks declined, with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.8 percent amid speculation the U.S. Federal Reserve would start lifting interest rates from mid-year. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0759 GMT Market Current Prev Close Pct Move Singapore 3404.08 3404.57 -0.01 Kuala Lumpur 1797.94 1791.74 +0.35 Bangkok 1551.55 1559.71 -0.52 Jakarta 5466.14 5444.63 +0.39 Manila 7828.48 7820.29 +0.10 Ho Chi Minh 589.66 588.44 +0.21 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)
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