SE Asia Stocks -Singapore leads regional gains ahead of Fed decision

miércoles 16 de septiembre de 2015 02:16 GYT

BANGKOK, Sept 16 (Reuters) - Most Southeast Asian stock
markets were range-bound on Wednesday as investors in the region
were cautious ahead of the U.S. Federal Reserve's decision on
interest rates, with stocks in Singapore outperforming while
some Indonesian large-caps gained.
    Singapore's key Straits Times Index traded up 0.9
percent, with shares of Singapore Telecommunications Ltd
 and CapitaLand leading the market rebound
from recent losses.
    Much of the gain in the city-state's bourse was powered by
bargain-hunting which came after Tuesday's index slide to the
lowest close since June 2012 and as sentiment reversed after
Wall Street's overnight gains. 
    "Yesterday's drop could incite some bargain hunting today
though we think this will be restrained and within a certain
band as the Fed could still come up with surprises," said broker
NRA Capital in a report.
    The Thai SET index posted its first gain in five
sessions. Jakarta's composite index was little changed,
with gains in select large-caps such as Telekom Indonesia
, among one of broker Citi's top picks.
    "We continue to believe that the large-cap infra-themed
names will outperform in the next one year," Citi said in a
report dated Sept. 15. Its year-end 2015 and year-end 2016
targets for the Indonesian index were 5,000 and 5,700,
    The Philippine index eked out modest gains, while
Vietnam drifted into negative territory, with shares
moving mixed after Market Vectors Vietnam ETF announced
its portfolio review. 
    Asian shares followed Wall Street higher on Wednesday,
reflecting the possibility of the first interest rate hike in
the United States in almost a decade. 
    Malaysia was closed on Wednesday for a holiday,
reopening on Thursday.    
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 Change at 0545 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          2867.14       2841.94       +0.89
 Bangkok            1373.51       1370.65       +0.21
 Jakarta            4340.00       4347.16       -0.16
 Manila             7113.68       7089.01       +0.35
 Ho Chi Minh         562.25        563.27       -0.18
 (Reporting by Viparat Jantraprap; Editing by Sunil Nair)