July 27, 2016 / 10:12 AM / in 2 years

SE Asia Stocks-Higher on BOJ stimulus; Indonesia ends at 14-mth high

July 27 (Reuters) - Southeast Asian stock markets closed
higher on Wednesday on a larger-than-expected economic stimulus
package from Japan, and ahead of the outcome of the U.S. Federal
Reserve policy meeting later in the day.
    Japanese Prime Minister Shinzo Abe unveiled a stimulus
package of more than 28 trillion yen ($265 billion), exceeding
initial estimates of around 20 trillion yen. 
    "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 Fed is expected to leave interest rates unchanged when
it concludes its meeting on Wednesday as policymakers hold out
for more evidence of a pickup in inflation. 
    Vietnam shares closed 1.2 percent higher, driven by
energy and financials, on encouraging July industrial production
data and as the country expects to post a trade surplus in July
against a deficit in June.  
    Petrovietnam Gas Joint Stock Corp and PetroVietnam
Drilling & Well Service Corp gained 2.5 percent and 1.6
percent respectively.
    Indonesia finished 1 percent up, its highest close
in more than 14 months. Financials and utilities led the gains,
with Bank Central Asia Tbk PT up 1.9 percent while
Perusahaan Gas Negara Tbk PT added 5.1 percent.
    Indonesia's president on Wednesday appointed World Bank
managing director Sri Mulyani Indrawati as the country's new
finance minister, as part a wider cabinet reshuffle aimed at
increasing the effectiveness of his team. 
    Philippine shares closed 1 percent higher, led by
consumer cyclicals and consumer staples.
    Restaurant chain Jollibee Foods and food and
beverage firm JG Summit Holdings were the biggest
gainers on the index.
    Thai shares closed 0.7 percent higher as June
exports fell less than expected. 
    For Asian Companies click;  
  STOCK MARKETS                                       
  Change on day                                       
  Market          Current      Previous    Pct Move
  Singapore       2941.49      2933.44     0.27
  Bangkok         1515.40      1504.81     0.70
  Manila          8100.48      8024.54     0.95
  Jakarta         5274.361     5224.395    0.96
  Kuala Lumpur    1663.56      1661.42     0.13
  Ho Chi Minh     656.11       648.59      1.16
  Change on year                           
  Market          Current      End 2015    Pct Move
  Singapore       2941.49      2882.73     2.04
  Bangkok         1515.08      1288.02     17.63
  Manila          8100.48      6952.08     16.52
  Jakarta         5274.361     4593.008    14.83
  Kuala Lumpur    1663.56      1692.51     -1.71
  Ho Chi Minh     656.11       579.03      13.31
 (Reporting by Hanna Paul; Additional reporting by Rushil Dutta;
Editing by Sunil Nair)
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