SE Asia Stocks -Mixed; Malaysia up after govt plan to boost stock market
BANGKOK, Sept 14 (Reuters) - Southeast Asian stock markets were mixed in rangebound trading on Monday, with the Malaysian key index rising after the government announced a plan to boost the stock market and while selling in large-cap energy shares sent the Thai benchmark to a near one-week low. The Kuala Lumpur composite index was up 0.6 percent after a modest loss on Friday. Prime Minister Najib Razak said on Monday a government equity investment firm would be given 20 billion ringgit ($4.6 billion) to shore up the country's stock market, and announced other measures to support its slowing economy. Banks, including Public Bank, led gains after the central bank announced after market hours on Friday it kept its benchmark interest rate unchanged at 3.25 percent, as widely expected. In Thailand and Indonesia, government measures to help lift domestic economy bolstered local stock market sentiment last week. Bangkok's SET index was down 0.6 percent, giving up early small gains and after a weekly gain of almost 1 percent. Selling in energy shares amid weak global oil prices was a drag, with top energy firm PTT Pcl among decliners. "Expectations that the US FOMC will not raise rate at its meeting on Thursday should back global equities," said broker KGI Securities. "However, energy shares could be weak and cap the SET recovery," it said. The Jakarta composite index was up 0.4 percent after Friday's 0.4 percent gain. Bank Rakyat Indonesia was up 0.3 percent, among most actively traded stocks by turnover. Singapore's key Straits Times Index was down 0.4 percent on resuming trade after Friday's polling day holiday. Singapore's ruling party romped to a strong election victory on Friday and increased its share of the vote and seat tally as it brushed off an opposition challenge in the city state's most hotly contested polls. The Philippine index extended gains for a second trading day while Vietnam was a tad lower. Asian shares rose as investors pondered whether the U.S. Federal Reserve will be confident enough to raise interest rates this week for the first time in a decade. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0458 GMT Market Current Prev Close Pct Move Singapore 2875.96 2888.03 -0.42 Kuala Lumpur 1612.52 1603.60 +0.56 Bangkok 1373.83 1381.72 -0.57 Jakarta 4379.39 4360.47 +0.43 Manila 6974.61 6911.38 +0.91 Ho Chi Minh 565.91 566.74 -0.15 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)
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