April 9, 2019 / 4:28 AM / 11 days ago

SE Asia Stocks-Most edge higher; investors eye Fed minutes

    * Indonesia set to snap two consecutive losses
    * Singapore on track to post eighth gain in nine sessions
    * Investor sentiment buoyed ahead of Fed minutes 

    By Shreya Mariam Job
    April 9 (Reuters) - Most Southeast Asian stocks rose in thin
trade on Tuesday, with Indonesia leading gains ahead of the U.S.
Federal Reserve meeting minutes and inflation data, while
uncertainties on the Sino-U.S. trade talks lingered.
    "The FOMC Minutes could hold more dovish details to hold
rates this year and wind down QT (Quantitative tightening),"
Vishnu Varathan, senior economist with Mizuho Bank said in a
note. 
    According to a Reuters poll taken last month, the U.S.
Federal Reserve is done raising interest rates until at least
the end of next year. Economists gave a 40 percent chance of at
least one rate cut by end-2020.
    U.S. consumer price index, due out Wednesday, is likely to
have risen 1.8 percent in March, according to a Reuters poll.
    Meanwhile, investor sentiment was hampered following news
that U.S. officials are "not satisfied yet" about all the issues
standing in the way of a deal to end the U.S.-China trade war.
However, a top White House official also stated that progress
had been made in talks with China last week.
    Growing uncertainties on the Sino-U.S. trade front ahead of
the Fed minutes release on Wednesday saw investors across the
board adopt a cautious approach. MSCI's broadest index of
Asia-Pacific shares outside Japan was flat after
brushing its highest since late August last year during the
previous session.     
    Indonesian stocks led gains in the region with a 0.8
percent rise and were set to snap two sessions of losses. Energy
and financial stocks boosted the index with United Tractors Tbk
Pt firming 1.4 percent and Bank Central Asia Tbk Pt
 adding 0.4 percent. 
    Oil prices eased on Tuesday, slipping away from 5-month
highs reached earlier in the session as a sluggish economic
outlook countered an otherwise tight market.
    Singapore stocks recouped losses from the previous
session with a 0.2 percent rise, supported by gains among the
lenders. 
    United Overseas Bank Ltd and DBS Group Holdings
Ltd gained 0.3 percent and 0.5 percent, respectively. 
    Meanwhile, telecom stocks dragged the Malaysian benchmark
index lower. Maxis Bhd and Axiata Group Bhd
 dropped 1.8 percent and 1 percent, respectively.
    Vietnam stocks slipped and were on track to snap
three straight sessions of gains.     
    Philippine stock markets were closed for a holiday.

    
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SOUTHEAST ASIAN STOCK MARKETS As at 0412 GMT
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3322.79   3315.42         0.22
 Bangkok                1651.05   1646.18         0.30
 Jakarta                6477.355  6425.734        0.80
 Kuala Lumpur           1640.46   1644.35         -0.24
 Ho Chi Minh            996.2     997.56          -0.14
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3322.79   3068.76         8.28
 Bangkok                1651.05   1563.88         5.57
 Jakarta                6477.355  6,194.50        4.57
 Kuala Lumpur           1640.46   1690.58         -2.96
 Ho Chi Minh            996.2     892.54          11.61
                                                  
 
 (Reporting by Shreya Mariam Job in Bengaluru; Editing by
Shreejay Sinha)
  
Nuestros Estándares:Los principios Thomson Reuters
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