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SE Asia Stocks-Indonesia up ahead of rate review; others mixed

BANGKOK, Oct 8 (Reuters) - Indonesian shares gained on

Tuesday due to broad-based buying in large caps ahead of an

interest rate decision by the central bank, while Thai stocks

rebounded from two sessions of losses as investors hunted for

bargains among mid- and small-cap shares.

Jakarta's Composite Index was up 1.1 percent at

midday in moderate trading volume that was around half of its

full-day average over the past 30 sessions. Banking shares were

among those actively traded, led by Bank Rakyat Indonesia


Most analysts expect Bank Indonesia (BI) to keep its

benchmark reference rate at 7.25 percent at a policy rate review

later in the day, partly on the back of subdued inflationary


"The foreign reserve data was supportive and also along with

market expectations that BI will not increase its benchmark rate

today, which should be positive for banking sector," said John

Teja, director of broker Ciptadana Securities in Jakarta.

Indonesian foreign exchange reserves were at $95.68 billion

at end of September, $2.68 billion higher than a month earlier,

supported by a recent global sukuk issuance, the central bank

said on Monday.

The key Thai SET index was up 1.3 percent at midday

amid active speculative buying in shares such as Tipco Foods Pcl

. Investors also bought shares of large caps such as

Kasikornbank Pcl that had led recent market slides.

"Local players were active in the morning session. I think,

broadly, investors expect that the issue about U.S. budget and

debt ceiling will be resolved in time," said strategist Teerawut

Kanniphakul at broker CIMB Securities.

Other Southeast Asian stocks markets were rangebound with

Asian shares reversing early losses as data

showed China's services industry continued to expand, soothing

to some extent nerves jarred by fears of a U.S. debt default as

the U.S. government shutdown entered a second week.

Among the gainers in the region, Singapore's Straits Times

Index edged up 0.4 percent to 3,147, recouping early

losses after Monday's slip to near a three-week


Shares in Singapore-listed mid-cap Blumont Group Ltd

jumped 54 percent after the company named a new

chairman. The stock had tumbled 85 percent after the Singapore

Exchange lifted a trading suspension on Monday.

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Change at 0547 GMT

Market Current Prev Close Pct Move

TR SE Asia Index* 409.09 407.14 +0.48

Singapore 3147.61 3136.59 +0.35

Kuala Lumpur 1775.60 1776.82 -0.07

Bangkok 1433.07 1414.62 +1.30

Jakarta 4420.80 4374.96 +1.05

Manila 6434.77 6443.21 -0.13

Ho Chi Minh 499.75 500.47 -0.14