February 1, 2017 / 10:24 AM / a year ago

SE Asia Stocks-Singapore hits 15-mth closing high; all eyes on Fed

By Sindhu Chandrasekaran
    Feb 1 (Reuters) - Singapore stocks hit a 15-month closing
high and Indonesia posted its first gain in four sessions on
Wednesday, while regional peers closed largely flat, as
investors awaited the outcome of the U.S. Federal Reserve
    Singapore recovered from Tuesday's loss and ended the
session 0.7 percent higher, its highest close since October
    Industrials and real estate stocks led the gains with
conglomerate Jardine Matheson gaining 1.6 percent and
CapitaLand Ltd rising 2.4 percent.
    Indonesian stocks were up 0.6 percent, with financials
accounting for nearly half the gains. The index rose 0.9 percent
in January.
    The country's factory output rose for the first time in four
months due to rising new domestic orders, data released on
Wednesday showed.  
    "Indonesia's manufacturing PMI for January came in at 50.4pt
(vs. forecast 49.5pt, previous 49.0pt), which indicates that the
Indonesian manufacturing is starting to recover," said Taye
Shim, head of research at Mirae Asset Sekuritas, in a note.
    Indonesia's annual inflation rate also accelerated in
January, mainly due to increases in the prices of processed food
and drinks as well as cigarettes, the statistics bureau said on
    The Philippines and Thailand closed
marginally lower ahead of the Fed meeting on Wednesday.  
    Economists polled by Reuters have all but ruled out a rate
increase by the Fed.  
    "Our position is that the Federal Reserve will not raise
rates in this meeting. They're going to have to observe what
their President is doing, and try to forecast what the effect of
his moves will be (on financial markets)," said Joseph Roxas,
president of Manila-based Eagle Equities Inc.
    An interest rate hike is likely in June, according to Fed
futures data compiled by the CME Group.
    Vietnam and Malaysia were closed for a public
    For Asian Companies click;  

  Change on the                                         
  Market            Current       previous     Pct Move
  Singapore         3067.49       3046.8       0.68
  Bangkok           1576.32       1577.31      -0.06
  Manila            7227.45       7229.66      -0.03
  Jakarta           5327.161      5294.103     0.62
  Change this year                             
  Market            Current       End 2016     Pct Move
  Singapore         3067.49       2880.76      6.48
  Bangkok           1576.32       1542.94      2.16
  Manila            7227.45       6840.64      5.7
  Jakarta           5327.161      5296.711     0.57

 (Reporting by Sindhu Chandrasekaran; Editing by Amrutha
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