By Shanima A
Oct 11 (Reuters) - Indonesian shares fell on Wednesday as
foreign investors turned net sellers ahead of the release of the
U.S. Federal Reserve's September meeting minutes, while
Philippine shares hit a fresh record before paring the gains.
In contrast with the broader trend, Thai stocks climbed as
much as 0.7 percent to a fresh 24-year high, led by gains in
petroleum retailer PTT Pcl.
The Fed minutes due later in day may bolster views of a
December rate hike and provide clues on the pace of U.S.
monetary policy tightening.
Indonesian shares slipped as much as 0.8 percent to
their lowest in nearly two weeks, set for a second day of
"We are seeing a little bit of accelerated selloff by
foreign investors," said Taye Shim, head of research at Mirae
"Foreigners are selling about 1 trillion rupiah ($74.0
million) whereas they are buying about 600 bln rupiah," he said.
The index of the country's 45 most liquid stocks
fell 1.1 percent.
"I think investors are a little bit concerned that the
economic growth might not accelerate in the second-half and 2018
and beyond, given the fact that inflationary pressures are very
soft," he added.
Indonesia's annual inflation rate eased for a fourth month
in September to its lowest since March, official data showed
earlier this month.
Rupiah, which had been relatively stable against the
dollar for most of this year, fell to its weakest in 10 months
at the end of September.
Philippine stocks fell as much as 0.3 percent,
pulling back from an all-time high hit earlier in the day as
consumer staples and industrial stocks declined.
Super market operator Robinsons Retail Holdings
was the biggest drag on the index, falling 4.4 percent, while LT
Group Inc was down 4.2 percent.
Malaysian shares slipped 0.3 percent, hurt by losses
in telecom and consumer stocks, with DiGi.com down 2
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SOUTHEAST ASIAN STOCK MARKETS AT 0605 GMT
Market Current previous Pct Move
Singapore 3288.29 3288.95 -0.02
Bangkok 1715.67 1706.95 0.51
Manila 8380.2 8398.04 -0.21
Jakarta 5861.157 5905.762 -0.76
Kuala Lumpur 1755.73 1761.13 -0.31
Ho Chi Minh 813.94 810.65 0.41
Change so far
Market Current End prev Pct Move
Singapore 3288.29 2880.76 14.15
Bangkok 1715.67 1542.94 11.19
Manila 8380.2 6840.64 22.50
Jakarta 5861.157 5296.711 10.66
Kuala Lumpur 1755.73 1641.73 6.94
Ho Chi Minh 813.94 664.87 22.40
($1 = 13,510.0000 rupiah)
(Reporting by Shanima A; additional reporting by Chandini
Monnappa in Bengaluru; Editing by Amrutha Gayathri)