SE Asia Stocks-Indonesia leads regional fall ahead of Fed

Reuters

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.

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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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