17 de marzo de 2016 / 6:17 / en 2 años

SE Asia Stocks-Rise after Fed move; Indonesia up before BI rate decision

BANGKOK, March 17 (Reuters) - Southeast Asian stock markets
rose on Thursday in line with Asia and a gain in regional
currencies after the U.S. Federal Reserve reduced the number of
interest rate hikes expected this year.
    Jakarta composite index extended gains for a second
day to a near 8-month high. Banking shares such as Bank Rakyat
Indonesia posted modest gains as investors awaited the
outcome of Indonesia's central bank meeting later in the day.
    A slim majority in a Reuters poll expects Indonesia's
central bank, under pressure from the government to help lift
economic growth, to cut its benchmark interest rate again.
    The Fed's decision to hold interest rates steady on
Wednesday and gave more dovish guidance on interest rate
direction appeared to be positive for risk asset investment and
fund flows to the region.  
    The Philippines was an outperformer, with key Philippine
composite index up 1.8 percent. Top gainers of the index
were Robinson Land Corp which jumped 5.1 percent and
Globe Telecom which gained 4.6 percent.
    Philippine central bank said it saw no pressing need to
change its monetary settings. 
    In Bangkok, the key SET index was up 0.4 percent at
1,383.32 at midday. Index heavyweight energy stock PTT 
advanced 2.6 percent and PTT Exploration and Production
 rose 1.7 percent as oil extended gains. 
    Strategists of Maybank Kim Eng Securities in a report pegged
resistance for the SET index at 1,390.
    "We do not expect a huge inflow in this near term as the
valuation of big-cap stocks is now stretched," they wrote.
    Singapore was up 1 percent at its highest since Jan.
4 after the city-state said its exports unexpectedly rose in
February. Malaysia hit a near 2-week high and Vietnam
 touched a near 3-month high   
For Asian Companies click;  

  Change at 0559 GMT                                      
  Market              Current     previous close  Pct Move
  Singapore           2872.73     2844.21         1.00
  Bangkok             1383.32     1377.8          0.40
  Manila              7195.61     7065.39         1.84
  Jakarta             4876.895    4861.441        0.32
  Kuala Lumpur        1704.51     1693.43         0.65
  Ho Chi Minh         582.43      577.07          0.93
 (Reporting by Viparat Jantraprap; Editing by Gopakumar Warrier)

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