COLOMBO, Dec 10 The Malaysian stock market hit a
record high on Tuesday, while Philippine shares fell to a
three-month low amid uncertainty about the U.S. Federal
Reserve's stimulus tapering timeline.
Malaysia's main index hit a record high for a second
day and rose to 1,846.05. It was up 0.17 percent at 0705, led by
a 0.7 percent gain in Malayan Banking Berhad.
However, investors in the region were cautious about buying
ahead of a U.S. Fed meeting on Dec. 17-18.
The Fed is expected to begin tapering its own asset
purchases by March, a Reuters poll showed on Monday, but some
economists say it might start as early as this month.
Jakarta's Composite Index was up 1.3 percent at a
one-week high, helped by financial shares, with Bank Central
Asia PT jumping 3.7 percent.
Vietnam's benchmark VN Index was up 0.1 percent by
midday, supported by gains in several blue chips as an exchange
traded fund bought stocks during its portfolio restructuring.
Other regional stock markets fell, with the Philippines
index dropping 1.7 percent to a near three-month low as
economic growth in the country is expected to slow down sharply
in the fourth quarter. The government has forecast that as much
as 0.8 percentage point could be shaved off the annual GDP in
the final months of the year due to the typhoon in November.
Singapore stocks fell 0.5 percent, touching a
three-month low. The Thai stock market, which suffered an
outflow of more than $880 million in eight straight sessions
through Monday, was closed for a holiday.
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SOUTHEAST ASIAN STOCK MARKETS
Change at 705 GMT
Market Current Prev Close Pct Move
TR SE Asia Index* 395.13 395.66 -0.13
Singapore 3099.18 3113.64 -0.50
Kuala Lumpur 1844.99 1841.87 +0.17
Bangkok - 1367.42 -
Jakarta 4267.85 4214.34 +1.27
Manila 5908.71 6008.94 -1.67
Ho Chi Minh 511.75 511.23 +0.10