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SE Asia Stocks-Firmer led by Jakarta; US job data, China policy weigh
October 23, 2013 / 7:45 AM / 4 years ago

SE Asia Stocks-Firmer led by Jakarta; US job data, China policy weigh

Oct 23 (Reuters) - Southeast Asian stocks were firmer on
Wednesday led by Indonesia, but surrendered early gains on fears
over tighter policy in China after weak U.S. jobs data. 
    At 0657 GMT Jakarta's Composite Index (JCI) was up
0.9 percent led by financials, after losing 1.4 percent in the
previous session , while the Philippines' main share index
 was trading 0.5 percent firmer. 
    Concerns about a weaker U.S. economy after disappointing
U.S. jobs data on Tuesday kept gains in check.
    Jakarta-based Trimegah Securities in a investor note said
the rise in the Indonesian index was due to regional positive
sentiment on expectations of continuation in U.S. stimulus. 
    The benchmark Straits Times Index, which touched a
one-month high of 3235.25 in early trade, was up 0.1 percent to
3213.65 points at 0657 GMT, led by a 1 percent rise in
Oversea-Chinese Banking Corporation Ltd. 
    Malaysia was up 0.7 percent while Vietnam 
gained 0.8 percent. The Thai market was closed for a public
    In Asia, markets retreated after early gains on fears of
tighter policy in China, while the dollar dropped after tepid
U.S. jobs data vanquished expectations that the Federal Reserve
will taper its stimulus before next year. 
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 Change at 0657 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   423.43        420.96       +0.59
 Singapore          3213.65       3210.21       +0.12
 Kuala Lumpur       1815.42       1803.58       +0.66
 Bangkok               -          1448.54         -   
 Jakarta            4554.74       4512.74       +0.93
 Manila             6639.33       6603.60       +0.54
 Ho Chi Minh         504.16        500.57       +0.75

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