18 de noviembre de 2014 / 10:23 / en 3 años

SE Asia Stocks-Indonesia near 4-week high; Bank Indonesia rate decision awaited

BANGKOK, Nov 18 (Reuters) - Indonesia's key index hit a near
four-week closing high on Tuesday as rate-sensitive stocks
advanced before Bank Indonesia announced its interest rate
decision, a day after the president raised subsidised fuel
prices to help fund his reform agenda.
    The market awaited the central bank announcement due later
in the day, while Finance Minister Bambang Brodjonegoro said the
government is expected to save up to 140 trillion rupiah ($11.54
billion) next year from a cut in fuel subsidy. 
    The benchmark Jakarta's composite index rose 0.96
percent to 5,102.47, its day high and the highest close since
Oct. 23. Shares of Bank Rakyat Indonesia and Bank
Mandiri were top actively-traded stocks by turnover.
    The current policy interest rate level is supportive to
rising inflationary pressure, broker Bahana Securities said.
    "There is no need for BI to raise interest rate for now on
sufficient cushion of spread between its policy rate of 7.5
percent and core inflation which is running at 4 percent," said
Harry Su, head of research of Bahana Securities in Jakarta.
    However, he expects Bank Indonesia to raise interest rates
by 25 basis points next year to take into account any possible
rate hike by the U.S. Federal Reserve. 
    Thai shares closed up 0.8 percent at a two-week
high. The cabinet approved, as expected, a project to build
dual-track railways, lifting the outlook of construction
industry. Shares of Italian Thai Development 
outperformed, up 7 percent. 
    Among regional gainers, Philippine index rose for a
third day to a more than two-week closing high, with inflows
lifting shares of BDO Unibank and property firm
Megaworld Corp, stock exchange data showed.

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 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          3313.73       3288.67       +0.76
 Kuala Lumpur       1818.38       1806.48       +0.66
 Bangkok            1581.27       1569.07       +0.78
 Jakarta            5102.47       5053.94       +0.96
 Manila             7275.66       7229.72       +0.64
 Ho Chi Minh         594.25        600.93       -1.11
 Change on year
 Market             Current       End 2013    Pct Move
 Singapore          3313.73       3167.43       +4.62
 Kuala Lumpur       1818.38       1866.96       -2.60
 Bangkok            1581.27       1298.71      +21.76
 Jakarta            5102.47       4274.18      +19.38
 Manila             7275.66       5889.83      +23.53
 Ho Chi Minh         594.25        504.63      +17.76
 (Reporting by Viparat Jantraprap; Editing by Anand Basu)

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