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SE Asia Stocks-Mixed; Thai shares rebound from six-month low
December 17, 2014 / 5:51 AM / 3 years ago

SE Asia Stocks-Mixed; Thai shares rebound from six-month low

JAKARTA, Dec 17 (Reuters) - Southeast Asian stock markets
traded mixed on Wednesday with Thai stocks rebounding from their
lowest since June as the focus shifted to the central bank's
policy rate meeting.
    The SET Index rose 0.9 percent, after declining 8.5
percent in the past six sessions, giving investors attractive
stocks valuations, analysts said.
    "The Thai market is on a technical rebound," said Teerada
Charnyingyong, an analyst with Phillip Capital in Bangkok.
    "The focus has shifted to the rate meeting today. There are
some hopes of an interest rate cut, which would be positive for
the stock market," she added.
    Most economists surveyed by Reuters expect the interest rate
to remain unchanged, but with inflation at a five-year low of
1.26 percent in November, some analysts said the Bank of
Thailand had room to cut rates. 
    Indonesia's main stock index edged up 0.1 percent
from a five-week low touched in the previous session after the
rupiah hit a 16-year low.
    Trimegah Securities said in a research note on Wednesday
that the correction earlier this week presented a buying
opportunity in selected stocks.
    Shares of PT Impack Pratama Industri, an
Indonesian packaging and building material company, jumped 50
percent on its trading debut on Wednesday. 
    Singapore stocks extended their losses to a third day,
falling 0.2 percent on Wednesday while the Philippine index
 fell nearly 2 percent.
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 Change 0500 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3209.71       3215.09       -0.17
 Kuala Lumpur       1685.28       1673.94       +0.68
 Bangkok            1474.57       1461.74       +0.88
 Jakarta            5030.05       5026.03       +0.08
 Manila             7020.29       7160.38       -1.96
 Ho Chi Minh         528.80        535.14       -1.18
 (Reporting by Fransiska Nangoy; Editing by Anupama Dwivedi)

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