BANGKOK, Sept 14 — Southeast Asian stock markets were mixed in rangebound trading today, with the Malaysian key index rising after the government announced a plan to boost the stock market and while selling in large-cap energy shares sent the Thai benchmark to a near one-week low.

The Kuala Lumpur composite index was up 0.6 per cent after a modest loss on Friday.

Prime Minister Datuk Seri Najib Razak said today a government equity investment firm would be given RM20 billion to shore up the country’s stock market, and announced other measures to support its slowing economy.

Banks, including Public Bank, led gains after the central bank announced after market hours on Friday it kept its benchmark interest rate unchanged at 3.25 per cent, as widely expected.

In Thailand and Indonesia, government measures to help lift domestic economy bolstered local stock market sentiment last week. 

Bangkok’s SET index was down 0.6 per cent, giving up early small gains and after a weekly gain of almost 1 per cent.  Selling in energy shares amid weak global oil prices was a drag, with top energy firm PTT Pcl among decliners.

“Expectations that the US FOMC will not raise rate at its meeting on Thursday should back global equities,” said broker KGI Securities.

“However, energy shares could be weak and cap the SET recovery,” it said.

The Jakarta composite index was up 0.4 per cent after Friday’s 0.4 per cent gain. Bank Rakyat Indonesia was up 0.3 per cent, among most actively traded stocks by turnover.

Singapore’s key Straits Times Index was down 0.4 per cent on resuming trade after Friday’s polling day holiday.

Singapore’s ruling party romped to a strong election victory on Friday and increased its share of the vote and seat tally as it brushed off an opposition challenge in the city state’s most hotly contested polls.

The Philippine index extended gains for a second trading day while Vietnam was a tad lower.

Asian shares rose as investors pondered whether the U.S.  Federal Reserve will be confident enough to raise interest rates this week for the first time in a decade. — Reuters