June 20, 2019 / 10:14 AM / 3 months ago

SE Asia Stocks-Most close higher as Fed comments feed risk appetite

    * U.S. Fed signals possible interest rate cuts in July
    * Indonesia and Philippine cenbanks stand pat on interest
rates
    * Central banks say sufficient cause to ease in near future

    By Rashmi Ashok
    June 20 (Reuters) - Most Southeast Asian stock markets ended
firmer on Thursday, as dovish comments from the U.S. Federal
Reserve boosted global equities, while regional central banks
flagged similar moves toward looser monetary settings.
    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, which were among the top boost in
the region, extended gains into a third session. The city-state
was buoyed by blue-chip stocks such as DBS Group Holdings
 and Jardine Strategic Holdings.
    Leading the gains in the region, Vietnam shares
closed 1% firmer. Financials largely powered the index, with
Vietnam Technological And Commercial Joint Stock Bank
adding 2.5%.
    Thai stocks ended 0.7% higher, underpinned by gains
in energy shares, which soared after rising tensions in the
Middle East sent oil prices spiking. PTT PCL climbed
1.6%, while PTT Exploration and Production PCL ended
at its highest since April 26. 
    Meanwhile, the Philippine central bank kept its benchmark
interest rate steady on Thursday, but left the door open to
further policy easing as global risks to growth increases and as
policymakers expect inflation to slow more than previously
expected.
    Philippine stocks clawed back from early losses to
end little changed ahead of the central bank's announcement. 
     Indonesian stocks rebounded from early losses to
settle flat after Bank Indonesia decided to keep its policy
interest rate unchanged, but moved to cut the reserve
requirement for banks for the time being.
    Malaysian stocks ended higher, with electricity
utility provider Tenaga Nasional being the top gainer,
while tourist resort operator Genting Malaysia closed
up 1.2%. 
    
    
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SOUTHEAST ASIAN STOCK MARKETS
    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3314.51   3288.17         0.80
 Bangkok                1717.82   1705.98         0.69
 Manila                 8022.42   8017.01         0.07
 Jakarta                6335.698  6339.262        -0.06
 Kuala Lumpur           1675.43   1666.54         0.53
 Ho Chi Minh            959.18    949.69          1.00
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3314.51   3068.76         8.01
 Bangkok                1717.82   1563.88         9.84
 Manila                 8022.42   7,466.02        7.45
 Jakarta                6335.698  6,194.50        2.28
 Kuala Lumpur           1675.43   1690.58         -0.90
 Ho Chi Minh            959.18    892.54          7.47
 


 (Reporting by Rashmi Ashok in Bengaluru, Editing by Sherry
Jacob-Phillips)
  
Nuestros Estándares:Los principios Thomson Reuters
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