September 22, 2016 / 4:31 AM / 2 years ago

SE Asia Stocks-Rise after Fed stands pat

By Suhail Hassan Bhat
    Sept 22 (Reuters) - Southeast Asian stocks rose on Thursday,
reflecting gains in Asian peers, with financials leading the
rise after the Federal Reserve kept U.S. interest rates
unchanged and projected a less aggressive path for rate hikes in
the coming years.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 extended gains to 1.3 percent in its sixth
straight session of increases. 
    "No rate hike by the Fed coupled with monetary easing signal
by the Bank of Japan should lift short-term uncertainties and
lead to a relief rally," Taye Shim, an analyst with Daewoo
Securities, said in a note.
    The Fed signalled it could hike rates by year-end as the
labour market improved further, but cut the number of rate
increases expected in 2017 and 2018. 
    The BOJ abandoned its base money target and adopted "yield
curve control" under which it will buy long-term government
bonds to keep 10-year bond yields at current levels of around
zero percent. 
    Indonesian shares were headed for their fifth
session of gains in six, with aluminium company PT Alakasa
Industrindo rising 24 percent to its highest since
March 1994.
    The country's central bank will likely cut its benchmark
interest rate for a fifth time this year later in the day in an
attempt to spur economic growth, a Reuters poll showed.
    Philippine shares were on track for a fourth straight
session of gains, with Metro Pacific Investments Corp 
up 2.6 percent.
    The Philippine central bank is expected to keep its
benchmark interest rate steady at its policy meeting later in
the day, a Reuters poll showed. 
    Malaysian shares extended gains into a third
straight session after data released on Wednesday showed
inflation rose faster than expected in August. 
    Singapore shares were marginally higher after the
previous session's losses ahead of August inflation data due on

For Asian Companies click;  

  STOCK MARKETS                                        
  Change at 0343                                       
  Market           Current       Previous     Pct Move
  Singapore        2857.42       2850.74      0.23
  Bangkok          1499.11       1487.17      0.80
  Manila           7758.33       7675.42      1.08
  Jakarta          5394.986      5342.592     0.98
  Kuala Lumpur     1663.24       1658.73      0.27
  Ho Chi Minh      673.14        668.48       0.70
  Change this                                 
  Market           Current       End 2015     Pct Move
  Singapore        2857.42       2882.73      -0.88
  Bangkok          1499.11       1288.02      16.39
  Manila           7758.33       6952.08      11.60
  Jakarta          5394.986      4593.008     17.46
  Kuala Lumpur     1663.24       1692.51      -1.73
  Ho Chi Minh      673.14        579.03       16.25
 (Reporting by Suhail Hassan Bhat; Editing by Subhranshu Sahu)
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