By Suhail Hassan Bhat
Sept 22 Southeast Asian stocks rose on Thursday,
reflecting gains in Asian peers, with financials leading the
rise after the Federal Reserve kept U.S. interest rates
unchanged and projected a less aggressive path for rate hikes in
the coming years.
MSCI's broadest index of Asia-Pacific shares outside Japan
extended gains to 1.3 percent in its sixth
straight session of increases.
"No rate hike by the Fed coupled with monetary easing signal
by the Bank of Japan should lift short-term uncertainties and
lead to a relief rally," Taye Shim, an analyst with Daewoo
Securities, said in a note.
The Fed signalled it could hike rates by year-end as the
labour market improved further, but cut the number of rate
increases expected in 2017 and 2018.
The BOJ abandoned its base money target and adopted "yield
curve control" under which it will buy long-term government
bonds to keep 10-year bond yields at current levels of around
Indonesian shares were headed for their fifth
session of gains in six, with aluminium company PT Alakasa
Industrindo rising 24 percent to its highest since
The country's central bank will likely cut its benchmark
interest rate for a fifth time this year later in the day in an
attempt to spur economic growth, a Reuters poll showed.
Philippine shares were on track for a fourth straight
session of gains, with Metro Pacific Investments Corp
up 2.6 percent.
The Philippine central bank is expected to keep its
benchmark interest rate steady at its policy meeting later in
the day, a Reuters poll showed.
Malaysian shares extended gains into a third
straight session after data released on Wednesday showed
inflation rose faster than expected in August.
Singapore shares were marginally higher after the
previous session's losses ahead of August inflation data due on
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SOUTHEAST ASIAN STOCK MARKETS
Change at 0343
Market Current Previous Pct Move
Singapore 2857.42 2850.74 0.23
Bangkok 1499.11 1487.17 0.80
Manila 7758.33 7675.42 1.08
Jakarta 5394.986 5342.592 0.98
Kuala Lumpur 1663.24 1658.73 0.27
Ho Chi Minh 673.14 668.48 0.70
Market Current End 2015 Pct Move
Singapore 2857.42 2882.73 -0.88
Bangkok 1499.11 1288.02 16.39
Manila 7758.33 6952.08 11.60
Jakarta 5394.986 4593.008 17.46
Kuala Lumpur 1663.24 1692.51 -1.73
Ho Chi Minh 673.14 579.03 16.25
(Reporting by Suhail Hassan Bhat; Editing by Subhranshu Sahu)