Reuters: Hot Stocks: SE Asia Stocks-Mixed; Jakarta up after surprise rate hike, Fed eyed

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Make Money From Your Roof We are paying to help homeowners profit from producing solar power. Find out if your home qualifies for our program today. Sign up! From our sponsors

SE Asia Stocks-Mixed; Jakarta up after surprise rate hike, Fed eyed Sep 13th 2013, 07:20 Tweet Share this Email Print Fri Sep 13, 2013 3:20am EDT Sept 13 (Reuters) - Indonesian stocks edged higher in early trade on Friday, a day after the country's central bank raised interest rates, while other markets traded sideways as a looming stimulus cut at next week's U.S. Federal Reserve meeting weighed on risky assets. At 0653 GMT, Jakarta's Composite Index was trading 0.2 percent higher after Bank Indonesia hiked interest rates in a surprise move on Thursday and revised down the country's economic growth forecast for this year. All regional markets except Vietnam are heading for a weekly gain as they had jumped early in the week on improving global economic outlook due to China's stronger-than-expected industrial output data following upbeat exports numbers, and receding fears of a U.S. military strike on Syria. The region is more focused on the Fed's two-day policy meeting that ends on Sept. 18, which could reverse foreign inflows into the risky assets of the region. The Fed is expected to reduce its $85-billion-a-month bond-buying programme at the meeting. But weaker-than-expected data recently, including August jobs growth and consumer spending and durable goods orders in July, deepened the uncertainty about the extent of the reduction. "If the Fed announcement is tightening, that will lead to further foreign outflow from the region," said Song Seng Wun, an economist at CIMB, based in Singapore. Fear in Asian financial markets of what the Fed might do may have been greatly exaggerated, judging by how little foreign investment that entered Asia during the past four years has left so far in anticipation of tighter U.S. monetary policy. Thailand's main stock index was up 0.2 percent, while Vietnam was up 0.1 percent in thin trade amid weak buying appetite among investors. Bucking the trend, Manila's main stock index was down 1.1 percent, Singapore's Straits Times index edged down 0.2 percent from its near three-week high, and Malaysia was trading 0.4 percent weaker from the previous session's more than three-week high. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change at 0653 GMT Market Current Prev Close Pct Move TR SE Asia Index* 397.44 399.44 -0.50 Singapore 3113.72 3121.08 -0.24 Kuala Lumpur 1765.90 1772.40 -0.37 Bangkok 1401.05 1397.90 +0.23 Jakarta 4365.87 4356.61 +0.21 Manila 6130.65 6195.61 -1.05 Ho Chi Minh 476.01 475.52 +0.09 (Reporting by Shihar Aneez in Colombo and Andjarsari Paramaditha in Jakarta; Editing by Jijo Jacob) Tweet this Link this Share this Digg this Email Reprints Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions