SE Asia Stocks-Most up on oil bounce; Fed's stance dents sentiment
Jan 28 (Reuters) - Most Southeast Asian stock markets ended slightly higher on Thursday as gains in oil prices helped boost investor sentiment, but the U.S. Federal Reserve's nod to jittery markets kept a lid on further gains. The Philippine stock index rose 0.9 percent to a near three-week high, Singapore added 0.6 percent, and Indonesia ended 0.4 percent up to a more than three-week high. Thailand finished 0.8 percent firmer at over five-week closing high, while Malaysia gained 0.2 percent, with $83.6 million foreign inflow. Bucking the trend, Vietnam ended 0.6 percent down. The U.S. Federal Reserve kept interest rates unchanged on Wednesday and said it was "closely monitoring" global economic and financial developments, signalling it had accounted for a stock market selloff but was not ready to abandon a plan to tighten monetary policy this year. The markets had expected a dovish Fed statement after volatility in financial markets since the U.S. central bank raised its interest rates for the first time almost in a decade. Teerada Charnyingyong, an analyst with Phillip Capital in Bangkok said the markets traded in a tight range. "Sentiment was bullish because of the rise in oil prices and oil-related shares gained. But worries over the global economy after the Fed statement hit sentiment." Oil rose towards $34 per barrel on Thursday, hitting a three-week high and bouncing well off a 12-year low set this month, supported by the possibility that major producers may cooperate to cut production. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current previous close Pct Move Singapore 2562.45 2546.18 +0.64 Bangkok 1288.40 1278.29 +0.79 Manila 6563.38 6507.22 +0.86 Jakarta 4602.829 4583.628 +0.42 Kuala Lumpur 1634.53 1631.54 +0.18 Ho Chi Minh 539.47 542.69 -0.59 Change so far this year Market Current End prev yr Pct Move Singapore 2562.45 2882.73 -11.11 Bangkok 1288.40 1288.02 +0.03 Manila 6563.38 6952.08 -5.59 Jakarta 4602.829 4593.008 +0.21 Kuala Lumpur 1634.53 1692.51 -3.43 Ho Chi Minh 539.47 579.03 -6.83 $1 = 4.2400 ringgit (Reporting by Shihar Aneez; Editing by Anand Basu)
© Thomson Reuters 2017 All rights reserved.