SE Asia Stocks-Indonesia rebounds; others weak on US budget talks

Reuters

BANGKOK, Sept 26 (Reuters) - Indonesian stocks rose on

Thursday as investors bought back recently-battered banks, while

others in Southeast Asia tracked broader Asia lower amid caution

over budget talks in the United States.

Jakarta's Composite Index was up 0.9 percent,

reversing loss on the previous session and in morning trade.

Shares in Bank Rakyat Indonesia rose 2 percent

after losing nearly 10 percent in the past four sessions and

Bank Mandiri gained 1.2 percent after an 11 percent

drop over the same period.

The recent selldown in banking shares was partly associated

with the central bank's slower loan growth target through its

new regulation that will take effect in November.

"Banks generally claim that they are vigilant in their

lending so they will not be impacted. And tightening of policy

is actually positive for the overall sector risk," Citi Research

said in a report dated Sept. 25.

Thai stocks were rangebound, with the broader SET index

closing nearly unchanged at 1,437.92 at midday, while

the Philippine main index erased most of its early losses

that sent it to the lowest in more than a week at one point.

Stocks in Singapore and Malaysia recouped

some of their earlier losses amid selective buying in

commodities shares such as Wilmar International Ltd.

Vietnam's index fell 0.56 percent amid news of slow

credit growth in a banking system grappling with toxic debt.

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SOUTHEAST ASIAN STOCK MARKETS

Change at 0540 GMT

Market Current Prev Close Pct Move

TR SE Asia Index* 410.83 412.11 -0.31

Singapore 3198.26 3208.58 -0.32

Kuala Lumpur 1777.42 1784.06 -0.37

Bangkok 1437.92 1436.90 +0.07

Jakarta 4445.62 4406.77 +0.88

Manila 6408.67 6420.42 -0.12

Ho Chi Minh 483.50 486.22 -0.56

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