June 18, 2019 / 4:00 AM / a month ago

SE Asia Stocks-Tepid ahead of Fed meeting; Singapore recovers

    * All eyes on U.S. Federal Reserve interest rate decision
    * Trading volumes remain low as investors stay on sidelines

    By Rashmi Ashok
    June 18 (Reuters) - Most Southeast Asian stock markets
traded in a tight range on Tuesday as caution ahead of the U.S.
Federal Reserve's two-day policy meeting kept investors on the
sidelines.
    The Fed is meeting later in the day amid fresh demands by
U.S. President Donald Trump to cut interest rates. However, the
central bank is expected to keep rates steady this time while
preparing for a rate cut later this year.
    "With scant data releases and no significant developments on
the trade front, the mood in Asia will likely remain cautious,"
ING said in a note.
    Investors will wait for possible adjustments to the Fed's
dot plots before taking on substantial bets, ING added.
    Singapore shares rose 0.9%, heading for their first
session of gain in three, with conglomerate Jardine Matheson
Holdings adding 1.3% and Venture Corp
climbing 1.8%. 
    The market recovered from the previous session's losses as
weak data raised expectations of a possible monetary easing in
October.
    Financials were among the top gainers, with lenders such as
Oversea-Chinese Banking Corp climbing 0.9%, while DBS
Group added 0.7%.
    Indonesian stocks rebounded from the previous
session's near 1% drop. Telekomunikasi Indonesia Tbk
added 1%, while cigarette manufacturer Gudang Garam Tbk
 advanced 0.8%.
    "Indonesia retreated for four trading sessions and it's fair
to say that this recovery is only a technical rebound. There has
not been too much of a pick-up in volume," said Taye Shim, head
of research at Mirae Asset Sekuritas.
    "The central bank's rate decision is expected this week and
investors are pretty much sidelined," Shim added.
    Malaysian stocks edged higher, with telecom company
Axiata Group up 1.3%.
    Vietnamese stocks edged lower, dragged mainly by
financials.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS at 0326 GMT
 Change on the day                               
 Market                 Current  Previous close  Pct Move
 Singapore              3236.15  3207.99         0.88
 Bangkok                1666.9   1667.23         -0.02
 Manila                 7903.08  7908.99         -0.07
 Jakarta                6224.98  6190.525        0.56
 Kuala Lumpur           1642.47  1638.4          0.25
 Ho Chi Minh            944.26   946.95          -0.28
                                                 
 Change so far in 2019                           
 Market                 Current  End 2018        Pct Move
 Singapore              3236.15  3068.76         5.45
 Bangkok                1666.9   1563.88         6.59
 Manila                 7903.08  7,466.02        5.85
 Jakarta                6224.98  6,194.50        0.49
 Kuala Lumpur           1642.47  1690.58         -2.85
 Ho Chi Minh            944.26   892.54          5.79
 
 (Reporting by Rashmi Ashok in Bengaluru; Editing by Subhranshu
Sahu)
  
Nuestros Estándares:Los principios Thomson Reuters
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