* Malaysian stocks subdued ahead of C.bank decision
* Indonesia largest gainer in region
By Soumyajit Saha
July 9 (Reuters) - Most Southeast Asian stocks traded in a
tight range on Tuesday as markets awaited cues from the U.S.
Federal Reserve Chairman's testimony to the Congress this week.
Buying in the region was subdued after
stronger-than-expected U.S. jobs data in June lowered market
expectations of a deep rate cut by the Fed.
"Investors will likely opt to keep to the sidelines ahead of
Fed Chairman Jerome Powell's testimony to the Congress as hopes
for deep rate cuts are being scaled back," ING Group said in a
note to clients.
Malaysian stocks .KLSE moved marginally up, but trading
was at a fraction of the 30-day average volume as the market
awaited the Malaysian central bank's policy review later in the
day.
The regulator is widely expected to stay pat on its
overnight policy rate of 3%, according to economists surveyed in
a Reuters poll last week. Indonesian stocks .JKSE edged up 0.3% with financials
serving as the biggest boost. Bank Central Asia BBCA.JK rose
about 0.9% and was the biggest contributor to gains.
An index of the country's 45 most liquid stocks .JKLQ45
rose 0.2%.
Philippine stocks .PSI were 0.5% lower, weighed down by
consumer stocks. Index heavyweights SM Investments Corp SMI.PS
and Ayala Land ALI.PS were down more than 1% each.
Singapore stocks .STI slipped as extended losses in
financial stocks outweighed slight gains in industrials.
DBS Group DBSM.SI , the largest stock on the index, fell
0.6% after losing for the last five sessions, while Jardine
Matheson Holdings JARD.SI rose 0.3%.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0336 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3329.49 3334.23 -0.14
Bangkok 1731.15 1731.03 0.01
Manila 8015.54 8051.52 -0.45
Jakarta 6368.832 6351.827 0.27
Kuala Lumpur 1679.72 1677.64 0.12
Ho Chi Minh 965 966.35 -0.14
Change on year
Market Current End 2018 Pct Move
Singapore 3329.49 3068.76 8.50
Bangkok 1731.15 1563.88 10.70
Manila 8015.54 7466.02 7.36
Jakarta 6368.832 6194.498 2.81
Kuala Lumpur 1679.72 1690.58 -0.64
Ho Chi Minh 965 892.54 8.12