SE Asia Stocks-Firmer after ECB meeting; Jakarta hits over two-month high
Oct 23 (Reuters) - All Southeast Asian stock markets rose on Friday, with Indonesia hitting a more than two-month high, driven by the European Central Bank's (ECB) signal on more stimulus. Indonesia's Jakarta Composite Index rose 1.3 percent to its highest since Aug. 11, led by financials such as Bank Rakyat Indonesia and Bank Mandiri. Both gained over 2.5 percent. The ECB held policy steady at its meeting on Thursday as widely expected and later central bank chief Mario Draghi told a news conference that ECB policymakers were "open to the full menu of monetary policy" to stoke the euro zone economy as needed. "Investors read this as a possible sign the monetary authorities are still concerned with overall economic sluggishness and that the FOMC will confirm next week, after its scheduled meeting, of further delay in its planned interest rate-hike," Singapore-based Net Research Asia said in a note. Gains on Wall Street also helped support regional markets, but the rally in stock prices will be capped due to uncertainties related to corporate earnings and economic sluggishness, Net Research Asia said. Singapore traded 1.1 percent firmer and the Philippines jumped 1.9 percent. Vietnam's benchmark VN Index rose 1 percent, on track for the second straight gain after posting the biggest jump in two weeks in the previous session, supported by banks and real estate companies. Thai market was closed for a holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change at 0645 GMT Market Current Prev Close Pct Move Singapore 3072.35 3038.11 +1.13 Kuala Lumpur 1710.81 1705.09 +0.34 Jakarta 4644.72 4584.56 +1.31 Manila 7249.86 7117.78 +1.86 Ho Chi Minh 601.17 595.08 +1.02 (Reporting by Shihar Aneez; Editing by Anand Basu)
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