SE Asia Stocks -Rise; Thai index at more than 3-week high on banks
BANGKOK, Sept 9 (Reuters) - Southeast Asian stock markets rose on Wednesday, tracking global markets with the Malaysian key index touching a near one-week high amid broad-based buying while optimism about economic stimulus sent the Thai benchmark to over three-week high. The Kuala Lumpur composite index was up 1 percent at 1,603.36, the highest since Sept. 3, with twenty four of the 30 stocks gauged by the index rising. Banks such as Public Bank and AMMB Holdings were among top gainers as the central bank is expected to hold its benchmark rate at 3.25 percent at a policy review on Friday. The Thai SET index advanced 1.1 percent to 1,395.07, the highest since Aug. 17. The banking subindex rose for a second day after the cabinet approved a new round of economic measures to help small firms which analyst said would ease bad loan pressure on banks. Brokers in Bangkok said they expected limited market gains. "Investors are advised to take some profit as markets will remain volatile. Investors are awaiting the FOMC meeting on Sept. 16-17," strategists at broker Maybank Kim Eng Securities wrote in a report. Wall Street's top banks still expect the Federal Reserve to raise interest rates this year, but their conviction around a September hike has decreased notably in the last month due to volatility in global markets, according to a Reuters poll conducted on Friday. Indexes in Singapore, Indonesia and Vietnam all rose for a second successive day while the Philippine index rebounded 0.7 percent from a near two-week closing low in the previous session. Asian shares extended a global rally amid hopes of more stimulus measures in China and on strong German trade data. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0812 GMT Market Current Prev Close Pct Move Singapore 2922.75 2885.32 +1.30 Kuala Lumpur 1603.36 1587.12 +1.02 Bangkok 1395.07 1379.32 +1.14 Jakarta 4350.07 4318.59 +0.73 Manila 6942.47 6891.30 +0.74 Ho Chi Minh 572.34 566.72 +0.99 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)
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