SE Asia Stocks -Indonesia edges up before rate decision

BANGKOK, March 17 (Reuters) - Indonesian shares eked out

small gains on Tuesday, helped by selective buying in banking

and consumer stocks ahead of the central bank's decision on

interest rates, while other markets in Southeast Asia rose along

with Asia and U.S. stocks overnight.

Jakarta's composite index was up 0.03 percent at

5,436.83 with companies, including retailer Matahari Putra Prima

and Bank Central Asia, actively traded.

Indonesia's central bank is expected to hold rates steady on

Tuesday to aid the rupiah, the worst-performing Asian

currency so far this year. The rate decision is due after 0600

GMT.

"On the back of weak Indonesian rupiah, we expect Bank

Indonesia to maintain its policy rate at 7.50 percent," said

Harry Su, head of research at broker Bahana Securities in

Jakarta.

Singapore's Straits Times Index was up 0.4 percent,

hovering around a one-week high, led by shares of DBS Group

Holdings and SingTel.

Shares in Thailand rebounded from Monday's more than

two-month low closing level which sent the index's 14-day

Relative Strength Index (RSI) to 31.8, near an oversold

territory of 30 or lower.

The SET index's valuation has become more attractive with a

decline in forward earnings multiple of 16.5 times, which is

close to regional average of 15.5 times, strategists at broker

Krungsri Securities wrote in a report.

"A rebound will provide a trading opportunity for short-term

speculators. However, we believe global markets will continue to

fluctuate in the medium term due to concern over a Fed rate

hike," they said.

Stocks in Malaysia, the Philippines and

Vietnam all recovered after two sessions of losses.

MSCI's broadest index of Asia-Pacific shares outside Japan

was up 0.8 percent, after all three major U.S.

stock indexes posted gains of over 1 percent on Monday.

Investors positioned for the possibility that

weaker-than-expected U.S. data will prompt the Federal Reserve

to leave its options open this week on the timing of a future

rate hike.

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SOUTHEAST ASIAN STOCK MARKETS

Change at 0543 GMT

Market Current Prev Close Pct Move

Singapore 3388.34 3376.04 +0.37

Kuala Lumpur 1785.29 1780.54 +0.27

Bangkok 1518.86 1515.57 +0.22

Jakarta 5436.83 5435.27 +0.03

Manila 7765.20 7730.95 +0.44

Ho Chi Minh 583.10 580.80 +0.40

(Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)