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SE Asia Stocks-Rise; Indonesia rebounds ahead of rate decision
October 15, 2015 / 4:43 AM / 2 years ago

SE Asia Stocks-Rise; Indonesia rebounds ahead of rate decision

BANGKOK, Oct 15 (Reuters) - Southeast Asian stock markets
rose in line with Asia on Thursday as weak U.S. economic data
added to hopes a Fed rate hike will be delayed, with the
Indonesian benchmark rebounding ahead of the central bank's
policy meeting and Thai banks gaining ahead of results.
    The Jakarta composite index was up 1.1 percent at
1,420.73, reopening after Wednesday's holiday and after a fall
to a one-week closing low on Tuesday.
    The upbeat market sentiment followed the rupiah which
strengthened more than 3 percent, with Indonesia's central bank
expected to keep its benchmark policy rate unchanged at 7.5
percent in a meeting later on Thursday. 
    In Bangkok, buying interest in banking shares made the SET
index touch a more than two-month high.
    Shares of Bank of Ayudhya jumped more than 10
percent at one point ahead of third quarter results due by next
week, with analysts forecasting a strong quarterly earnings.
    "Investors will hold banking stocks for now, awaiting the
third quarter earnings results from next Monday onwards.
Earnings should beat estimates, thanks to efficient cost control
and net interest margin," said Maybank Kim Eng Securities.
    Malaysia's key index earlier touched the highest
since Aug. 6, extending Tuesday's seventh straight gain before
it closed on Wednesday for a public holiday.
    Stocks in Singapore rose 1 percent, the Philippines
 recovered from a more than one-week closing low on
Wednesday and Vietnam traded modestly higher.
For Asian Companies click;  

 Change at 0402 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3014.86       2983.92       +1.04
 Kuala Lumpur       1718.25       1711.14       +0.42
 Bangkok            1420.73       1405.08       +1.11 
 Jakarta            4927.96       4483.08       +1.00
 Manila             7010.32       6924.77       +1.24
 Ho Chi Minh         590.45        589.98       +0.08
 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)

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