SE Asia Stocks-Rise after BOJ's negative rate decision

viernes 29 de enero de 2016 03:56 GYT
 

Jan 29 (Reuters) - Southeast Asian stock markets firmed up
on Friday after the Bank of Japan shocked financial markets by
adopting a negative interest rate to maintain business
confidence and revive a deflationary mindset, and as global
crude oil prices gained. 
    In a 5-4 vote, the Japanese central bank decided to charge
0.1 percent interest on current accounts that financial
institutions hold at the BOJ, and said it would cut interest
rates further into negative territory if judged necessary.
 
    The Singapore and Philippines share indexes 
jumped 1.9 percent each by 0724 GMT, while Malaysia rose
1.1 percent.
    Vietnam was up 0.9 percent, Thailand traded 0.4
percent firmer, and Indonesia recouped early losses and was up
0.1 percent. 
    "Bullish sentiments drive the markets," said Teerada
Charnyingyong, an analyst with Phillip Capital in Bangkok.
    "The expectation is that the weakening of Japanese Yen
 could help economies on their export front."
    Investors were also upbeat after the U.S. Federal Reserve
said on Wednesday it was "closely monitoring" global economic
and financial developments, even as it kept rates unchanged.
 
    Gains in oil prices for the fourth consecutive session on
talk of a possible deal to pare back excess supply also boosted
sentiment. 
    Global benchmark Brent crude futures have gained 8 percent
on the week so far, a second weekly gain, while U.S. crude
 added about 5 percent for the week.
    
         
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SOUTHEAST ASIAN STOCK MARKETS
    
  Change at 0724 GMT                                      
  Market              Current    previous close  Pct Move
  Singapore           2611.08    2562.45         +1.87
  Bangkok             1293.20    1288.40         +0.37
  Manila              6687.62    6563.38         +1.89
  Jakarta             4606.601   4602.829        +0.08
  Kuala Lumpur        1652.52    1634.53         +1.10
  Ho Chi Minh         544.17     539.47          +0.91
 
 (Reporting by Shihar Aneez; Editing by Biju Dwarakanath)