SE Asia Stocks-Rise on expectations of BOJ stimulus; Indonesia outperforms
July 27 (Reuters) - Southeast Asian stock markets rose on Wednesday, boosted by expectations of fresh stimulus from the Bank of Japan, and ahead of the outcome of the U.S. Federal Reserve policy meeting later in the day. Japan's government on Friday is likely to inject 6 trillion yen ($56.90 billion) in direct fiscal outlays into the economy over the next few years under a planned stimulus package, double the amount initially planned, the Nikkei newspaper reported. "The hope of stimulus from Japan had diminished a couple of weeks back, but recent reports on the likelihood of one have got the markets upbeat again," said Manny Cruz, an analyst with Manila-based Asiasec Equities. The U.S. Federal Reserve is expected to leave interest rates unchanged when it concludes its two-day meeting on Wednesday as policymakers hold out for more evidence of a pickup in inflation. Indonesia stocks outperformed other markets in the region, rising as much as 1.5 percent to its highest since May 27, 2015. Financials and utilities led the gains, with Bank Central Asia Tbk PT up 1.9 percent and Perusahaan Gas Negara Tbk PT adding 5.1 percent. Indonesia's president on Wednesday appointed World Bank managing director Sri Mulyani Indrawati as the country's new finance minister, among a wider cabinet reshuffle aimed at increasing the effectiveness of his team. Philippine shares shrugged off data showing a weak budget balance and gained 0.5 percent, led by consumer cyclicals and consumer staples. The Philippines had a budget deficit of 120.3 billion pesos ($2.56 billion) in the first half, compared with a surplus of 13.7 billion pesos in the year-ago period. Realtor SM Investments Corp and restaurant chain Jollibee Food were the biggest gainers. Thailand shares gained 0.6 percent as June exports fell less than expected, while Singapore and Malaysia remained flat. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change at 0441 GMT Market Current Previous Pct Move Close Singapore 2934.4 2933.44 0.03 Bangkok 1513.17 1504.81 0.56 Manila 8066.32 8024.54 0.52 Jakarta 5276.605 5224.395 1.00 Kuala Lumpur 1662.58 1661.42 0.07 Ho Chi Minh 651.91 648.59 0.51 Change on year Market Current End 2015 Pct Move Singapore 2934.4 2882.73 1.79 Bangkok 1513.17 1288.02 17.48 Manila 8066.32 6952.08 16.03 Jakarta 5276.605 4593.008 14.88 Kuala Lumpur 1662.58 1692.51 -1.77 Ho Chi Minh 651.91 579.03 12.59 ($1 = 105.4400 yen) (Reporting by Rushil Dutta; Additional reporting by Hanna Paul; Editing by Subhranshu Sahu)
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