SE Asia Stocks -Mixed ahead of Fed; Indonesia falls on weak trade data
BANGKOK, Sept 15 (Reuters) - Southeast Asian stock markets were mixed on Tuesday as investors awaited the U.S. Federal Reserve's interest rate decision, with the Indonesian index retreating after weak August trade data, but Malaysian shares rose on stimulus and ahead of a holiday. Jakarta's composite index fell 1.2 percent, reversing Monday's gain, when the market saw net foreign buying for the first time in 10 trading days. Selling in large-caps was broad-based, with 28 out of 30 stocks measured by the MSCI index of Indonesia falling. Real-estate developer Bumi Serpong Damai was down 4 percent, among the top losers on the index, on foreign-led selling. Data showed Indonesia posted a $433 million trade surplus in August, smaller than the $630 million surplus forecast in a Reuters poll. The surplus was only one-third of the revised $1.38 billion that the country had in July. Malaysia's index rose 0.5 percent. It had rallied on Monday after Prime Minister Najib Razak said the government would inject 20 billion ringgit ($4.6 billion) into a state investment firm to shore up the stock market. Malaysia will be closed on Wednesday for a market holiday. The Thai SET index inched up 0.2 percent after three days of losses. Optimism about the government's infrastructure investment sent shares of Italian Thai Development up 0.6 percent. The SET is poised to be range-bound or ease slightly on Tuesday, ahead of the Fed rate decision, to be known on Thursday night in Bangkok, said broker KGI Securities. "While most economists take a 'no hike' view, the uncertainty may remain until the FOMC announcement," KGI's strategists wrote in a report. Singapore declined 0.8 percent, in line with Asia. The Philippines rose for a third day and Vietnam rebounded after three days of losses. Morgan Stanley upgraded Singapore to most preferred market in ASEAN while Credit Suisse raised its 2015 range for Philippines' key stock index to 7,500-6,750, up from 7,095 now citing new assumptions on price-to-earnings. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0529 GMT Market Current Prev Close Pct Move Singapore 2847.66 2871.47 -0.83 Kuala Lumpur 1647.54 1639.63 +0.48 Bangkok 1379.15 1377.15 +0.15 Jakarta 4338.07 4390.37 -1.19 Manila 7095.60 7069.18 +0.37 Ho Chi Minh 563.49 562.17 +0.23 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)
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