SE Asia Stocks-Most up ahead of Fed decision; Thai banks up after cenbank keeps rates
BANGKOK, Sept 16 (Reuters) - Most Southeast Asian stock markets rose on Wednesday, with indexes in Singapore and Thailand snapping losing streaks, as world share markets rose ahead of the U.S. Federal Reserve's interest rate decision. Banking shares jumped in the Thai stock market after the Bank of Thailand left its benchmark interest rate unchanged for a third straight meeting on Wednesday, as widely expected. Shares of Bangkok Bank Pcl climbed 1.2 percent and Siam Commercial Bank Pcl hit a near three-week closing high, sending the key SET index 0.8 percent higher, its first gain in five trading days. "The rate cut will depress banks' net interest margins. The decision to keep rate unchanged is positive for banks," said a bank analyst at broker Phillip Securities. Singapore's Straits Times Index ended up 0.94 percent, recouping some of the losses over previous three days and reflecting short covering activities, according to broker NRA Capital. Indexes in the Philippines and Vietnam both were little changed, while Indonesia's index eased for a second day in line with a fall in the rupiah. World share markets rose on Wednesday, albeit in thin volume, and short-term U.S. bond yields held near 4-1/2-year highs as investors braced for the possibility of the first interest rate hike in the United States in almost a decade. Malaysia's stock market was closed on Wednesday, reopening on Thursday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 2868.74 2841.94 +0.94 Bangkok 1381.80 1370.65 +0.81 Jakarta 4332.51 4347.16 -0.34 Manila 7093.92 7089.01 +0.07 Ho Chi Minh 564.13 563.27 +0.15 Change on year Market Current End 2014 Pct Move Singapore 2868.74 3365.15 -14.75 Kuala Lumpur -- 1761.25 -6.48 Bangkok 1381.80 1497.67 -7.74 Jakarta 4332.51 5226.95 -17.11 Manila 7093.92 7230.57 -1.89 Ho Chi Minh 564.13 545.63 +3.39 (Reporting by Viparat Jantraprap; Editing by Anand Basu)
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