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SE Asia Stocks-Indonesia gains after rate hikes, Philippines on Q2 GDP
August 29, 2013 / 11:18 AM / 4 years ago

SE Asia Stocks-Indonesia gains after rate hikes, Philippines on Q2 GDP

BANGKOK, Aug 29 (Reuters) - Indonesian shares rose for a
second straight session on Thursday after the central bank
raised interest rates, while Philippine stocks surged on
stronger-than-expected second-quarter GDP and the prospect of
further growth.
    Jakarta's Composite Index closed up 1.9 percent at
the day's high of 4,103.59, pulling the benchmark from an
oversold level of below 30 for the first time in almost two
weeks. Its 14-day relative strength index was at 33.
    Late afternoon, Bank Indonesia announced increases of 50
basis points for two key interest rates and forecast that the
current account deficit will narrow in the third quarter.
  
    The improving macro-economic outlook lifted broader market
sentiment, with buying most active in large caps such as Astra
International. Shares in state-backed companies rose
with Telkomunikasi Indonesia extending gains from the
previous session amid a share buy-back plan.
    The Philippine main index jumped 3.6 percent, making it the
region's top performer of the day. It also recovered about half
of its 7 percent loss over the past two sessions and bounced
from the oversold mark, with its 14-day RSI at 34.7 at Thursday
close.
    Most Southeast Asian stocks staged a mild rebound, tracking
gains in global markets. Stocks in Thailand and
Singapore rose after 10 sessions of losses, while 
Malaysian stocks snapped a two-day falling streak.
    Signs of a delay in expected Western military strikes on
Syria ended a three-day sell-off on world share markets, but
investors were on edge over whether any action would trigger
turmoil across the Middle East. 
    

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SOUTHEAST ASIAN STOCK MARKETS
 Change on day
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   377.28        370.64       +1.79
 Singapore          3038.03       3004.18       +1.13
 Kuala Lumpur       1703.78       1686.17       +1.04
 Bangkok            1292.53       1275.76       +1.31
 Jakarta            4103.59       4026.47       +1.92
 Manila             5944.21       5738.06       +3.59
 Ho Chi Minh         468.55        473.30       -1.00
 
 Change on year
 Market             Current     End prev yr    Pct Move
 TR SE Asia Index*   377.28        424.10      +11.04
 Singapore          3038.03       3167.08       -4.07
 Kuala Lumpur       1703.78       1688.95       +0.88
 Bangkok            1292.53       1391.93       -7.14
 Jakarta            4103.59       4316.69       -4.94
 Manila             5944.21       5812.73       +2.26
 Ho Chi Minh         468.55        413.73      +13.25
 
* The Thomson Reuters South East Asia Index               is a
highly representative indicator of stocks listed in Indonesia,
Malaysia, the Philippines, Singapore, Thailand and Vietnam.
    
 Stock Market Volume (shares)
 Market          Current Volume    Average Volume 30 days
 Singapore         430,075,400          272,313,503      
 Kuala Lumpur      186,233,900          165,030,603      
 
 Bangkok             7,905,083            9,157,234      
 Jakarta         4,577,416,000        3,449,892,417    
 Manila                126,800               84,886    
 Ho Chi Minh            39,838               44,522

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