SE Asia Stocks-Indonesia, Philippines rise over 2 pct
By Sindhu Chandrasekaran Sept 15 (Reuters) - Indonesian stocks notched up their biggest single-day percentage gain in more than six weeks on Thursday, aided by upbeat monthly trade data, while Philippine shares rose the most in four months on bargain-hunting. Other Southeast Asian markets remained sluggish as uncertainty about global central banks' next steps hurt risk appetite. Both the U.S. Federal Reserve and the Bank of Japan are scheduled to hold policy meetings next Wednesday. Sources say BOJ board members could debate cutting the bank's rates further and changes to its already massive asset-buying programme. The Bank of England at its policy meeting later in the day is expected to stand pat after last month's policy easing, and provide a signal for future moves. Indonesian shares closed 2.3 percent higher, with consumer cyclicals and telecom services leading the gains. PT Astra International Tbk rose 5.5 percent, while PT Telekomunikasi Indonesia (Persero) Tbk gained 4.3 percent. Indonesia's exports and imports declined at a far slower pace than forecast in August, data released earlier in the day showed, with non-oil and gas exports rising for the first time in 16 months. The better-than-expected export and import data helped move the market higher, said Harry Su, an analyst with Jakarta-based Bahana Securities. Philippine stocks rose 2.2 percent, led by financials and consumer cyclicals. SM Prime Holdings Inc and SM Investments Corp rose over 3 percent each. Local investors saw heavy net foreign selling as an opportunity to enter the market again, said Victor Felix, an analyst with AB Capital Securities in Manila, adding that if the market ended higher in the next session, we might see a reversal. Singapore fell for a fourth straight session, pulled down by consumer goods and oil and gas stocks. Investors are on risk-off mode as the odds for a Fed rate hike next week are creeping up, though market participants still believe it is going to be in December after the U.S. presidential elections, said Andrew Chow, associate director at UOB Kay Hian in Singapore. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on day Market Current Prev close Pct Move Singapore 2805.52 2809.35 -0.14 Bangkok 1463.39 1458.19 0.36 Manila 7708.42 7546.01 2.15 Jakarta 5265.819 5146.038 2.33 Kuala Lumpur 1652.99 1661.39 -0.51 Ho Chi Minh 656.18 656.64 -0.07 Change on year Market Current End 2015 Pct Move Singapore 2805.52 2882.73 -2.68 Bangkok 1463.39 1288.02 13.62 Manila 7708.42 6952.08 10.88 Jakarta 5265.819 4593.008 14.65 Kuala Lumpur 1652.99 1692.51 -2.33 Ho Chi Minh 656.18 579.03 13.32 (Reporting by Sindhu Chandrasekaran; Editing by Subhranshu Sahu)
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