SE Asia Stocks-Rise as focus shifts to Fed, key cenbank meetings

lunes 14 de marzo de 2016 01:11 GYT

BANGKOK, March 14 (Reuters) - Southeast Asian stock markets
rose on Monday, led by Singapore and the Philippines, as
investors added risk positions on expectations the U.S. Federal
Reserve may not consider an interest rate hike at a meeting this
    Singapore's key Straits Times Index traded up about 1
percent at its highest since Jan. 4. The Philippine composite
index climbed 1.3 percent to a more-than-4-month high,
extending its winning spell from the previous week.
    The Thai SET index rose 0.8 percent, breaching the
key 1,400 level for the first time since Nov. 9. The index is
poised for a limited upside near term, brokers said, with its
14-day relative strength index (RSI) near 70, just shy of the
overbought level.
    Strategists at broker Krungsri Securities expect the SET to
move sideways along with regional equities, with the outcome of
the Bank of Japan and Fed meeting later in the week being key
indicators to fund flows. 
    "Despite the general sell call, if the Fed keeps rate
unchanged, a delay in the rate hike will be a key positive
factor for global bourse in the medium term," they wrote in a
    In Jakarta, shares were up almost 1 percent,
extending Friday's advance and ahead of the Indonesian central
bank's monetary policy meeting on Thursday. 
    Gains in Malaysia and Vietnam were relatively
modest while shares in Asia rose about 1
percent, beginning a central bank-focused week on a firm footing
and following a strong close of stocks in the Unites States on
    Energy and dividend-yielding stocks were among the top
gainers on MSCI's index of Southeast Asia, led
by a 12 percent surge in Philippine Long Distance Telephone
Company and a 4.2 percent jump in Thai PTT Global
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 Change at 0445 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2855.14       2828.86       +0.93
 Kuala Lumpur       1700.57       1696.54       +0.24
 Bangkok            1403.85       1393.41       +0.75
 Jakarta            4860.99       4813.77       +0.98
 Manila             7193.70       7098.64       +1.34
 Ho Chi Minh         578.42        577.26       +0.20
 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)