SE Asia Stocks-Mixed as volumes wane; Indonesia falls with rupiah

Wed Sep 25, 2013 2:09am EDT

BANGKOK, Sept 25 (Reuters) - Indonesian stocks slid on
Wednesday, fretting over a fall in the rupiah to a near
4-1/2-year low and selling in banks continued due to loan growth
concerns.
    Regional peers traded in a tight range amid uncertainty
about policies in the United States. 
    Jakarta's Composite Index was down 1.5 percent,
extending Tuesday's 2.3 percent loss, as weakness in the rupiah
 further hit sentiment. The index trimmed its
year-to-date gain to 1.8 percent and was among Asia's
underperformers.
    Among actively-traded shares, Bank Rakyat Indonesia
 dropped 3.2 percent and Bank Mandiri slipped
2.9 percent. 
    Stocks in the Philippines and Malaysia 
slipped into negative territory, reversing their small gains of
the previous session. Singapore, Thailand and
Vietnam rose modestly.
    Trading was relatively light across the region, with volumes
in Singapore, Malaysia and Thailand falling to around a third of
the full-day averages over the past 30 sessions.
    Last week's rally in the emerging region after the U.S.
Federal Reserve delayed reducing its monetary stimulus appeared
to be short-lived as some markets would remain vulnerable to Fed
policy when it does decide to slow its dollar printing presses.
 
    In Bangkok, selective buying in dividend-yielding stocks
such as Advanced Info Service Pcl and Shin Corporation
Pcl helped reverse early market losses.
    Strategists at broker Phillip Securities pegged support for
the broader SET index at 1,400 versus its midday close
at 1,423.89.
    "The 1400-point support level could be used as a buy-in
point to bet on end-of-quarter institutional window dressing ...
Cut loss if the SET index is unable to hold above 1,400 points,"
they wrote in a report.
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0531 GMT
 Market             Current     Prev Close    Pct Move
 TR SE Asia Index*   409.72        411.70       -0.48
 Singapore          3217.86       3211.75       +0.19
 Kuala Lumpur       1785.39       1792.48       -0.40
 Bangkok            1423.89       1417.77       +0.43
 Jakarta            4393.71       4460.41       -1.50
 Manila             6438.81       6461.38       -0.35
 Ho Chi Minh         485.24        482.82       +0.50
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