SE Asia Stocks - Mixed; Singapore higher after cbank stays put
SINGAPORE, April 14 (Reuters) - Most Southeast Asian stock markets were trading mixed on Tuesday, with Singapore shares rising after the central bank stayed put on its monetary policy. Singapore's Straits Times Index gained 0.2 percent, while bank stocks and shares of real estate companies outperformed the broader market. United Overseas Bank, DBS Group Holdings and Oversea-Chinese Banking Corp were up between 1.2 percent and 0.5 percent. The Monetary Authority of Singapore surprised markets by keeping monetary policy settings unchanged, saying growth was evolving in line with expectations and that cost pressures could eventually pick up due to a tight labour market. The Jakarta composite index was down, ahead of the central bank policy rate announcement, continuing its losing streak into a third session. "The regional market is down, giving negative sentiment to Indonesian market. There is no significant macro economic or corporate news, so some investors are continuing their profit-taking," said Arief Budiman, an analyst with Ciptadana Securities. Bank Mandiri Tbk, the country's largest bank by assets, was down 1.5 percent. Local brokerage Trimegah Securities said it remained overweight on the Indonesian banking sector but was growing cautious. The Philippine market was also lower, with property stocks such as Ayala Land Inc and Megaworld Corp in the negative zone. Thailand is halfway though a three-day holiday. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0450 GMT Market Current Prev Close Pct Move Singapore 3492.08 3484.39 +0.22 Kuala Lumpur 1842.25 1842.08 +0.01 Jakarta 5423.71 5447.41 -0.43 Manila 8064.29 8073.25 -0.11 Ho Chi Minh 561.83 559.54 +0.41 (Reporting by Aradhana Aravindan in SINGAPORE and Fransiska Nangoy in JAKARTA; Editing by Sunil Nair)
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