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
"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
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