SE Asia Stocks - Fall ahead of Fed meet, Indonesia at 3-month low
BANGKOK, April 28 (Reuters) - Southeast Asian stock markets mostly fell on Tuesday amid caution in Asia ahead of the Federal Reserve's two-day policy meeting, with Indonesia extending losses on disappointing earnings while Thai shares slipped after weak trade data. Jakarta's composite index was down 1.0 percent after a 3.5 percent drop on Monday, taking its year-to-date loss to 0.7 percent. It traded at 5,192.76, the lowest since Jan. 21 Shares of PT Astra International Tbk were down 1 percent amid foreign-led selling following its report of a first-quarter earnings decline. Bangkok's SET index was down 1 percent at 1,533.33, the lowest since April 3. Thai exports fell for a third month in March, suggesting Southeast Asia's second-largest economy will post a quarterly contraction in the first three months of the year as a key engine of growth fails to fire up. Interest rate-sensitive stocks led among losers as investors trimmed positions ahead of a rate decision by the monetary policy committee on Wednesday. Property developer Land & Houses Pcl shed 2 percent and lender Kasikornbank eased 0.9 percent. "Foreigners should slow down investment as they await the MPC meeting," said broker Maybank Kim Eng Securities in a report. Asian stocks pulled back from a seven-year peak scaled on Tuesday as sentiment gave way to caution ahead of the Federal Reserve's two-day policy meeting scheduled to start later in the session. Singapore's index, which hit a more-than-one-week closing high on Monday, eased 0.6 percent. Malaysia fell for a second day, down 0.3 percent, and the Philippines declined 1 percent after three straight days of gains. Vietnam is closed Tuesday through Friday for national holidays. 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 3496.05 3515.85 -0.56 Kuala Lumpur 1853.89 1859.58 -0.31 Bangkok 1533.33 1548.83 -1.00 Jakarta 5192.76 5245.45 -1.00 Manila 7871.96 7958.07 -1.08 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)
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