SE Asia Stocks-Mixed; Indonesia extends gains

lunes 31 de agosto de 2015 05:22 GYT

Aug 31 (Reuters) - The Indonesian stock market extended
gains on Monday and hovered near levels seen before the last
week's global rout, helped by a "buy signal" from local funds
and buyback plans by some firms.
    However, further gains were capped by uncertainty about the
timing of a rate hike by the U.S. Federal Reserve.
    The Jakarta Composite Index (JCI) was up 1.1 percent
at 4,504.40 at 0846 GMT, led by gains in Unilever Indonesia
, up 5.9 percent, and Bank Rakyat Indonesia,
up 2.4 percent. The index is on track to close in the green for
the fifth straight session.
    "The buyback plans from the listed companies and the buy
signal from domestic pension funds as well as the recent oil
price hike have been supporting the market," said Muhammad Wafi,
an analyst with Jakarta-based Bahana Securities. 
    Wafi expects the market to rebound in the short term as the
index attempts to test its resistance before reaching their
end-2015 target of 4,700 on the back of higher government
spending on infrastructure.
    Last week, a cabinet minister said state-owned enterprises
are repurchasing their shares from Tuesday. 
    Confusion over policy direction in the world's two largest
economies sent global markets into turmoil early last week, with
the wildest price swings in years pushing investors to the
    Analysts said most investors have been awaiting for some
clues on when the United States will raise interest rates and
surveys, which are likely to point to further weakness in China.
    A signal by Federal Reserve's Vice Chairman Stanley Fischer
has left the door open to a September interest rate hike even
while several U.S. central bank officials acknowledged that
turmoil in financial markets, if prolonged, could delay the
first policy tightening in nearly a decade. 
    The Thailand stock index was up 0.8 percent. 
    Bucking the trend, Vietnam was 1.1 percent weaker,
while Singapore was down 0.8 percent. Markets in the
Philippines and Malaysia were closed for a
For Asian Companies click;  

 Change at 0846 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2932.45       2955.94       -0.79
 Bangkok            1377.88       1365.94       +0.87
 Jakarta            4497.16       4442.69       +1.13
 Ho Chi Minh         564.75        570.87       -1.07
 (Reporting by Shihar Aneez; Editing by Anand Basu)