SE Asia Stocks-Mixed as volumes wane; Indonesia falls with rupiah

Reuters

BANGKOK, Sept 25 (Reuters) - 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

concerns.

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

underperformers.

Among actively-traded shares, Bank Rakyat Indonesia

dropped 3.2 percent and Bank Mandiri slipped

2.9 percent.

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

at 1,423.89.

"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

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