SE Asia Stocks -Most up after Fed's dovish comments; Thai telecoms strong

jueves 19 de marzo de 2015 02:13 GYT
 

BANGKOK, March 19 (Reuters) - Most Southeast Asian stock
markets rose on Thursday as the U.S. Federal Reserve's dovish
comments on interest rates and economic recovery boosted
investor sentiment, with Thai telecoms shares among
outperformers after the government decided to resume 4G spectrum
auction.
    Gains in large-cap telecoms helped the Thai key SET index
 rise 0.3 percent to a near one-week high of 1,535.85.
    Advanced Info Service, the country's top mobile
phone company, gained as much as 2 percent to a more than
six-week high, while number two Total Access Communication
 and third-ranked True Corp rose 2.1 percent
and 0.7 percent, respectively. 
    The government has decided to resume a planned auction of
spectrum licences used for 4G wireless broadband services and
complete it in August, Deputy Prime Minister Pridiyathorn
Devakula told reporters on Wednesday. 
    Brokers in Bangkok said global risk appetite could stay in
the near term.
    "In our view, the Fed stance will clear the air for stocks
for a while and a stronger market is likely," said broker KGI
Securities in a report. 
    Stocks in Singapore edged up 0.4 percent after two 
days of falls, Indonesia recovered from a more than
three-week closing low on Wednesday and the Philippines 
rebounded after the previous session's loss.
    Malaysia was heading for a third day of gains.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 climbed 1.6 percent and U.S. stocks rallied
overnight after the Federal Reserve indicated it preferred a
more gradual path to normalizing U.S. interest rates.
  
    The Fed also downgraded its economic growth and inflation
projections, signalling it is in no rush to push borrowing costs
to more normal levels. 
    In Vietnam, the benchmark VN Index fell 0.2 percent,
with stocks range-bound in a volatile trading session.
 
        
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0547 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3374.13       3361.75       +0.37
 Kuala Lumpur       1807.22       1797.57       +0.54
 Bangkok            1535.85       1531.50       +0.28 
 Jakarta            5448.29       5413.15       +0.65
 Manila             7818.17       7756.58       +0.79
 Ho Chi Minh         577.76        578.68       -0.19
 
 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)