SE Asia Stocks-Higher before Fed decision; Thai central bank seen keeping rate steady

miércoles 16 de diciembre de 2015 02:11 GYT
 

BANGKOK, Dec 16 (Reuters) - Southeast Asian stock markets
rose on Wednesday in line with gains in Asia before a likely
hike in U.S. interest rates, with investors buying Thai
financial stocks ahead of the Bank of Thailand's interest rate
decision. 
    Thai SET index rose 0.2 percent at midday, pushed
higher by a 2 percent rise in shares of lender Bangkok Bank Pcl
 and a 3.2 percent jump in shares of hire purchase firm
Srisawad Power Pcl.
    Expectations that the central bank's monetary policy
committee would keep the one-day repurchase rate 
steady at 1.5 percent, rather than a cut, eased concerns over
near-term earnings impact on financial firms, traders said.
 
    The rate decision is due out around 0740 GMT.
    "A steady rate call will be positive for hire purchase
plays," said broker Krungsri Securities.
    Stocks in Indonesia and the Philippines 
gained. The central banks of both countries are expected to hold
monetary policy steady on Thursday.  
    Vietnam's benchmark VN Index rose 1.16 percent by the
break on Wednesday, on track for a second straight gain with
banks leading a rally by most shares. 
    Singapore rose for a second day and Malaysia 
gained after six sessions of losses.
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0553 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2839.23       2815.52       +0.84
 Kuala Lumpur       1633.68       1622.84       +0.67
 Bangkok            1303.20       1300.51       +0.21
 Jakarta            4454.45       4409.17       +1.03
 Manila             6805.55       6701.35       +1.55
 Ho Chi Minh         574.60        568.00       +1.16
 
 (Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)