SE Asia Stocks-Thai, Philippine shares rise after cenbank holds rates

miércoles 23 de marzo de 2016 06:41 GYT
 

BANGKOK, March 23 (Reuters) - Southeast Asian stock markets
ended mixed on Wednesday, with the Thai benchmark hitting a more
than 4-month high and the key Philippine stock index rebounding
after central banks in both countries kept interest rates steady
as expected.
    The Thai SET index was up 1.1 percent at 1,412.16,
the highest close since Nov. 6. Late buying boosted shares of
large cap banks and telecoms such as Bangkok Bank and
Advanced Info Service.
    The market saw buying interest after the Bank of Thailand
held its key interest rate at 1.50 percent as
expected and cut its 2016 growth forecast. 
    "The downbeat economic forecast was not a surprise. Today,
buying was more to do with a follow-through buying after the SET
index breached a key 1,400 level," said Pichai Lertsupongkij,
first vice president of privilege clients advisory at Thanachart
Securities.
    The Philippines' key index closed the day up 0.3
percent, notching up a modest 0.7 percent gain in a shortened
trading week. The Philippine stock market will be closed on
Thursday and Friday for a public holiday.
    The Philippine central bank on Wednesday kept its benchmark
interest rate steady at 4.0 percent as expected
amid robust economic growth and subdued inflation. 
    Stocks in Singapore ended slightly up, with data
showing the city-state's core inflation gauge rising 0.5 percent
in February from a year earlier, the fastest pace in five
months, on the back of higher food prices. 
    Malaysia was also little changed, with the release
of February consumer price inflation data postponed to Friday.
    A Reuters poll has forecast Malaysia's annual inflation rate
likely increased to 4.0 percent in February due to high
transport costs and a low base from a year earlier. 
    Indonesia hit the lowest close since March 15 while
Vietnam rose for the first time in four days.
 
    
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SOUTHEAST ASIAN STOCK MARKETS
    
  Change on the day                                            
  Market                   Current     previous close  Pct Move
  Singapore                2881.98     2880.65         0.05
  Bangkok                  1412.16     1397.2          1.07
  Manila                   7360.05     7342.03         0.25
  Jakarta                  4854.176    4856.107        -0.04
  Kuala Lumpur             1724.55     1724.75         -0.01
  Ho Chi Minh              574.71      570.91          0.67
                                                       
  Change so far this year                              
  Market                   Current     End prev yr     Pct Move
  Singapore                2881.98     2882.73         -0.03
  Bangkok                  1412.16     1288.02         9.64
  Manila                   7360.05     6952.08         5.87
  Jakarta                  4854.176    4593.008        5.69
  Kuala Lumpur             1724.55     1692.51         1.89
  Ho Chi Minh              574.71      579.03          -0.75
                                                               
 
 (Reporting by Viparat Jantraprap; Editing by Biju Dwarakanath)