SE Asia Stocks-Indonesia leads regional fall ahead of Fed
BANGKOK, Oct 29 (Reuters) - Most Southeast Asian stocks declined on Tuesday as investors trimmed their holdings before the U.S. Federal Reserve's policy meeting, with selling most active in recent gainers including Bank Rakyat Indonesia and Tenaga Nasional. Asian stock markets were broadly weak as investors awaited the outcome of the Federal Reserve's two-day meeting starting on Tuesday. "Most investors will closely watch for a Fed decision on the QE program. If Fed maintains the QE, this will help limit the downside risk to world markets," strategists at broker Maybank Kim Eng Securities wrote in a report. The Indonesian benchmark stock index underperformed the region, down almost 1 percent, reversing a modest 0.2 percent rise on Monday. Bank Rakyat shares dropped 3.6 percent, the second-biggest percentage losers on the blue chip index. The stock had gained around 15 percent so far on the month to Monday, almost double the rise of the blue chip index in the same period. Malaysia's key index eased 0.1 percent. Shares in Tenaga Nasional, among those actively traded, slid 1 percent after a 4 percent gain over the past two weeks that sent the stock to the highest level since 2007. In Bangkok, selective buying in growth stocks and dividend yielding shares such as Airports of Thailand and Shin Corporation lent support to the stock market. The benchmark SET index was up 0.2 percent at midday, after falling in early trade. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0710 GMT Market Current Prev Close Pct Move TR SE Asia Index* 423.98 424.67 -0.16 Singapore 3211.82 3207.85 +0.12 Kuala Lumpur 1815.81 1818.39 -0.14 Bangkok 1452.28 1449.62 +0.18 Jakarta 4556.62 4590.54 -0.74 Manila 6536.36 6539.81 -0.05 Ho Chi Minh 495.94 496.46 -0.10
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