June 20, 2019 / 4:04 AM / 4 months ago

SE Asia Stocks-Most gain as Fed hints at rate cuts; Philippines slips

    * Philippine, Indonesian cenbank decisions due later
    * Asian central banks expected to follow Fed's stance

    By Rashmi Ashok
    June 20 (Reuters) - Most Southeast Asian stock markets edged
higher on Thursday, as dovish comments from the U.S. Federal
Reserve boosted global equities, while signs that Sino-U.S.
trade talks were set to resume also helped sentiment.
    The Fed on Wednesday signalled interest rate cuts beginning
as early as July, saying it was ready to battle growing global
and domestic economic risks, in a marked shift in tone since its
last policy meeting.
    The commentary was widely seen as more dovish than expected,
sending global stocks higher.
    Singapore shares were the top performers in Southeast
Asia, heading for a fifth winning session in six. Lender DBS
Group Holdings was among the top gainers, up 1.5%.
    Thailand, Malaysia and Vietnam
notched modest gains.
    Meanwhile, market participants keenly await policy decisions
from the Philippine and Indonesian central banks due later in
the day. 
    The Bangko Sentral ng Pilipinas (BSP) is expected cut
benchmark rates for the second meeting in a row, though a
Reuters poll suggested it would be a close call as policymakers
try to strike a balance between supporting growth and curbing
inflation pressures.
    "After cutting (rates by) 25 bps (basis points) in May, the
main uncertainty now is how patient BSP will be in allowing for
impact of the latest rate cut to materialize and we think that
another rate cut this week can't be ruled out," analysts at
Mizuho Bank said in a note.
    Philippine stocks slipped in thin trade as investors
adopted a wait-and-watch stance ahead of the central bank's rate
decision. Volumes were at a small fraction of their 30-day
    Large-cap industrial stocks accounted for most of the
losses, with conglomerates SM Investments Corp and JG
Summit Holdings declining 1.9% and 2.1%, respectively.
    Indonesian stocks inched lower after adding 2.4% in
the previous two sessions. 
For Asian Companies click;  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3311.11   3288.17         0.70
 Bangkok                1710.84   1705.98         0.28
 Manila                 7975.83   8017.01         -0.51
 Jakarta                6331.927  6339.262        -0.12
 Kuala Lumpur           1668.98   1666.54         0.15
 Ho Chi Minh            950.61    949.69          0.10
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3311.11   3068.76         7.90
 Bangkok                1710.84   1563.88         9.40
 Manila                 7975.83   7,466.02        6.83
 Jakarta                6331.927  6,194.50        2.22
 Kuala Lumpur           1668.98   1690.58         -1.28
 Ho Chi Minh            950.61    892.54          6.51

 (Reporting by Rashmi Ashok; Editing by Subhranshu Sahu)
Nuestros Estándares:Los principios Thomson Reuters
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below