SE Asia Stocks -Mixed; Indonesia at 1-month low
BANGKOK, Sept 25 (Reuters) - Southeast Asian stock markets were mixed on Friday as investors weighed in the risk of a possible U.S. interest rate hike this year, with the Indonesian index touching a one-month low after the central bank's plan of a policy package to support the rupiah. Indonesia's central bank will announce a new policy package next month to support the rupiah, including a relaxation of requirements on forward dollar selling and tax incentives for exporters to keep their dollars onshore. The Jakarta composite index was down 1 percent at 4,204.65, the lowest since Aug. 26, on resuming trading after a holiday on Thursday. It was on track for a weekly drop of 4 percent, making it the region's worst performing index. Indexes in Singapore and Malaysia were little changed after a holiday on Thursday. Singapore was heading for a weekly loss of 1.6 percent, while Malaysia was on track for a 3.2 percent drop. In Bangkok, buying in large-cap energy shares such as PTT sent the key SET index 0.3 percent higher. A rise in oil prices helped lift sentiment in the energy sector, brokers said. The index was on track for a weekly loss of 1 percent. The SET index may consolidate or edge up, broker KGI Securities said in a report. "Foreign flows could be volatile as expectations for a Fed hike are back to the market," it said. Asian shares slumped on Friday, while the dollar firmed after Federal Reserve Chair Janet Yellen suggested the central bank is still on track to raise interest rates later this year. Vietnam's benchmark VN Index was down 0.03 percent, recovering most early losses and was on track for a gain of 0.7 percent on the week. The Philippine stock market was closed on Friday for a market holiday. The index posted a weekly drop of 3 percent, the worst since December 2013. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0715 GMT Market Current Prev Close Pct Move Singapore 2835.76 2845.74 -0.35 Kuala Lumpur 1615.80 1613.17 +0.16 Bangkok 1375.81 1372.35 +0.25 Jakarta 4204.65 4244.43 -0.96 Ho Chi Minh 570.10 570.25 -0.03 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)
© Thomson Reuters 2017 All rights reserved.