SE Asia Stocks-Rise after US Fed adopts "patient" approach to rate hike

jueves 18 de diciembre de 2014 06:43 GYT

JAKARTA, Dec 18 (Reuters) - Southeast Asian stock markets
rose on Thursday as investor concerns about an
earlier-than-expected rate hike eased after the U.S. Federal
Reserve said it would adopt a "patient" approach.
    The U.S. Fed on Wednesday offered a strong signal that it
was on track to raise interest rates sometime next year,
altering a pledge to keep rates near zero for a "considerable
time" in a show of confidence in the economy. 
    Jakarta's Trimegah Securities said investors responded
positively to the Fed's statement as they had anticipated a more
aggressive stance following positive U.S. economic data.
    Concerns over a possible U.S. rate hike, combined with
plummeting oil prices resulted in foreign outflows from emerging
markets this week due to global risk aversion.
    The Thai index led the Southeast Asian rally with a
2.5 percent gain, boosted by energy stocks rebounding from
losses posted earlier this week.
    Shares in Thai energy firm PTT PCL rose 6.3
percent. Its units PTT Exploration and Production PCL 
and PTT Global Chemical PCL were among those most
traded in Bangkok.
    Philippine stocks rebounded from their losses and
closed 0.9 percent higher. The index had lost 4.3 percent in the
last two sessions.
    The Indonesian benchmark index was up 1.5 percent,
its highest one-day gain in two months, as the rupiah 
strengthened the most since October. Consumer and banking stocks
were among the biggest gainers in Indonesia.   
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 Change on day
 Market             Current     Prev Close    Pct Move
 Singapore          3243.65       3227.23       +0.51
 Kuala Lumpur       1699.95       1681.90       +1.07
 Bangkok            1516.79       1480.20       +2.47
 Jakarta            5113.35       5035.66       +1.54
 Manila             7029.28       6966.21       +0.91
 Ho Chi Minh         528.45        518.22       +1.97
 Change on year
 Market             Current       End 2013    Pct Move
 Singapore          3243.65       3167.43       +2.41
 Kuala Lumpur       1699.95       1866.96       -8.95
 Bangkok            1516.79       1298.71       +16.8
 Jakarta            5113.35       4274.18       +19.6
 Manila             7029.28       5889.83       +19.3
 Ho Chi Minh         528.45        504.63       +4.72

 (Reporting by Fransiska Nangoy; Editing by Anupama Dwivedi)