BANGKOK, Sept 25 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
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
Among actively-traded shares, Bank Rakyat Indonesia
dropped 3.2 percent and Bank Mandiri slipped
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
"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