SE Asia Stocks-Rebound; Indonesia, Thailand set to underperform on week

Reuters

BANGKOK, Sept 27 (Reuters) - Southeast Asian stocks

rebounded in light volume on Friday as market players built up

positions in regional large caps amid gains in broader Asia

after U.S. jobless claims data pointed to an improving labour

market.

Banks and telecoms saw a bout of short-term trading after

declining this week in foreign-led selling, with Kasikornbank

, Bank Rakyat Indonesia and Philippine Long

Distance Telephone among the actively-traded stocks.

Indonesia's key index gained 0.7 percent after four

sessions of loss, trimming its fall so far in the week to 3.2

percent. The Thai index rose 0.2 percent, reversing its

slide on Thursday but on track for a 3.9 percent drop on the

week.

Thai stocks were expected to move in a range of 1,410-1,450

on the day, strategists at broker Phillip Securities said,

citing talks on the U.S. budget as among external concerns.

The index closed at 1428.09 at midday.

"In the near term, there remains room for trading

opportunities," they wrote in a report. "Clock ticks towards the

U.S. budget deadline on Oct. 1...these concerns could put a cap

on the market's upside potential and spark selling," they said.

Thailand and Indonesia have underperformed regional peers so

far this week, recording net foreign selling in the four

sessions to Sep. 26 of $212 million and $153 million,

respectively, Thomson Reuters and stock exchange data showed.

The Philippines, Malaysia and Vietnam

brought in net foreign inflows for the same period, data showed.

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SOUTHEAST ASIAN STOCK MARKETS

Change at 0542 GMT

Market Current Prev Close Pct Move

TR SE Asia Index* 410.54 409.69 +0.21

Singapore 3213.28 3194.31 +0.59

Kuala Lumpur 1778.78 1774.16 +0.26

Bangkok 1428.09 1424.76 +0.23

Jakarta 4436.84 4405.89 +0.70

Manila 6413.42 6407.46 +0.09

Ho Chi Minh 486.68 485.11 +0.32

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