BANGKOK, Sept 18 (Reuters) - Most Southeast Asian stocks
edged lower on Wednesday, tracking weakness in broader Asia, as
investors cut their bets on emerging markets amid an overhanging
risk of U.S. monetary stimulus tapering.
Indonesian index was down 0.6 percent by midday. It
lost as much as 1.4 percent earlier due to broadly-based selling
in big caps, with banking stocks slipping on concerns
about the potential impact of new mortgage regulation on growth.
Thai SET index erased early gain, inching down 0.3
percent amid selling in recent gainers including Ch Karnchang
Pcl and Krung Thai Bank Pcl while players
shifted money into laggard energy such as Banpu Pcl.
"More sector rotation plays will likely continue to dominate
in the near term ahead of the Federal Reserve meeting outcome,"
strategists at broker Phillip Securities wrote in a report.
Other benchmarks, including the Philippines and
Malaysia fell into negative territory, taking a breather
after their recent rally from lows in late August amid hopes of
a modest cut of U.S. Federal Reserve bond purchases.
Singapore's Straits Times Index bucked the trend,
up 0.5 percent, hitting its highest in nearly a month at one
point. Shares in Global Logistic Properties Ltd rose
after it announced new lease deal in Beijing.
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SOUTHEAST ASIAN STOCK MARKETS
Change at 0501 GMT
Market Current Prev Close Pct Move
TR SE Asia Index* 408.52 408.56 -0.01
Singapore 3196.19 3180.92 +0.48
Kuala Lumpur 1771.06 1774.94 -0.22
Bangkok 1438.87 1443.78 -0.34
Jakarta 4489.11 4517.62 -0.63
Manila 6333.59 6344.14 -0.17
Ho Chi Minh 476.88 477.73 -0.18