SE Asia Stocks -Thai stocks fall after unexpected rate cut; Indonesia extends losses
BANGKOK, April 29 (Reuters) - Thai stocks hit a four-week low on Wednesday amid foreign-led selling after an unexpected interest rate cut, while stocks in Indonesia fell for a sixth successive session as weak corporate earnings dented the broader market sentiment. Bangkok's SET index finished down 0.6 percent at 1,522.47, the lowest close since March 31. It fell as much as 1.1 percent at one point after the Bank of Thailand unexpectedly cut its key policy rate for a second straight meeting. Large caps led losses, with PTT Pcl down 2.5 percent and Siam Commercial Bank Pcl lower 1.2 percent. The market saw a net foreign selling worth 2.9 billion baht ($88.31 million), stock exchange data showed. The Jakarta composite index ended down 2.6 percent, taking its loss over six trading days to 6.5 percent. It was the worst performing index in Asia, with a year-to-date loss of 2.3 percent. Indonesia's biggest cement producer, PT Semen Indonesia Tbk , which reported an 8.5 percent drop in first-quarter net profit, was down 1.9 percent. Stocks in Singapore, Malaysia and the Philippines tracked Asia lower, while Vietnam remained closed through this week for national holidays. Asian share markets faded from seven-year peaks, while investors exited crowded positions in the U.S. dollar as the Federal Reserve wraps up a two-day policy meeting. 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 3487.15 3495.09 -0.23 Kuala Lumpur 1842.93 1855.06 -0.65 Bangkok 1522.47 1531.53 -0.59 Jakarta 5105.56 5242.16 -2.61 Manila 7825.47 7886.57 -0.77 Change on year Market Current End 2014 Pct Move Singapore 3487.15 3365.15 +3.63 Kuala Lumpur 1842.93 1761.25 +4.64 Bangkok 1522.47 1497.67 +1.66 Jakarta 5105.56 5226.95 -2.32 Manila 7825.47 7230.57 +8.23 Ho Chi Minh -- 545.63 +3.07 ($1 = 32.8400 baht) (Reporting by Viparat Jantraprap; Additional reporting by Fransiska Nangoy in Jakarta; Editing by Subhranshu Sahu)
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