SE Asia Stocks-Largely up ahead of key central bank meetings
By Aparajita Saxena Sept 19 (Reuters) - Most Southeast Asian stock markets were trading higher on Monday, tracking gains in Asian peers, ahead of crucial central bank meetings in the United States and Japan. The Federal Reserve is set for a lively debate on Tuesday and Wednesday and could give a clear signal of an interest rate rise to come even if it follows market expectations for a pause this month. "We expect soft market movements ahead of the FOMC meeting and the BOJ monetary policy meeting," said Taye Shim, an analyst with Daewoo Securities in Jakarta, adding he expected a continuation of the status quo. The Bank of Japan meets on Wednesday and could well go in the opposite direction by easing policy, though conflicting reports on what it might do have stoked much uncertainty. Sources have said the BOJ will consider making negative interest rates the centrepiece of future easing by shifting its prime policy target away from base money. Indonesian shares outperformed other markets in the region and were headed for their third straight session of gains, helped by telecom services stocks including Telekomunikasi Indonesia (Persero) Tbk PT. Singapore shares were marginally higher, helped by gains in oil stocks as global crude prices rose almost 2 percent after Venezuela said OPEC and non-OPEC producers were close to reaching an output stabilising deal and as clashes in Libya raised concerns that efforts to restart crude exports could be disrupted. Rig builders Keppel Corp and Sembcorp Industries rose 0.6 percent and 0.4 percent, respectively. Vietnam shares rose after five consecutive sessions of falls, supported by financial stocks. Vietcom Bank gained 3.29 percent. Malaysia was little changed, while Philippines receded 0.2 percent. MSCI's broadest index of Asia-Pacific shares outside Japan gained 1.1 percent. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change at 0344 GMT Market Current Previous Close Pct Move Singapore 2835.99 2827.45 0.30 Bangkok 1483.66 1479.07 0.31 Manila 7530.11 7553.76 -0.31 Jakarta 5305.413 5267.769 0.71 Kuala Lumpur 1653.16 1652.99 0.01 Ho Chi Minh 654.5 651.31 0.49 Change this year Market Current End 2015 Pct Move Singapore 2835.99 2882.73 -1.62 Bangkok 1483.66 1288.02 15.19 Manila 7530.11 6952.08 8.31 Jakarta 5305.413 4593.008 15.51 Kuala Lumpur 1653.16 1692.51 -2.32 Ho Chi Minh 654.5 579.03 13.03 (Reporting by Aparajita Saxena in Bengaluru; Editing by Subhranshu Sahu)
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