February 27, 2018 / 4:03 AM / in 4 months

SE Asia Stocks-Rise as U.S. rate concerns ease

    * Asian shares ex-Japan rise to 3-week high
    * Focus on Fed chief's testimony this week
    * Malaysia climbs 0.6 pct to near 4-week high

    By Aditya Soni
    Feb 27 (Reuters) - Southeast Asian stock markets rose on
Tuesday, in line with broader Asia, as U.S. Treasury yields
slipped, assuaging investor concerns about rising interest
rates.
    Wall Street and Asian shares climbed to three-week highs
ahead of Federal Reserve Chairman Jerome Powell's long-awaited
first congressional testimony this week.
    "Investors appear less concerned by U.S. rate hikes than at
any point this month, which is what is providing the positive
tone in global equity markets," said Stephen Innes, head of
trading for Asia Pacific at Oanda. 
    The 10-year U.S. Treasuries yield eased to 2.864
percent, boosting global risk appetite.
    Powell's testimony starting on Tuesday will be scrutinized
for clues on the pace of Fed's policy normalisation following
years of stimulus.
    "It seems the vote is for a continuation of what we already
know about the Fed and the path it has set out," said Greg
McKenna, chief market strategist at CFD and FX provider
AxiTrader.
     Malaysian shares rose 0.6 percent to a near
four-week high. Lender CIMB Group Holdings firmed 2.2
percent to a near four-year high, while Hong Leong Bank Bhd
 climbed 3.1 percent to a record.
    Indonesian shares rose 0.4 percent, driven mainly by
financials.
    PT Bank Mandiri, Indonesia's largest bank by
assets, gained 1.5 percent, while cement maker Semen Indonesia
 rose 2.5 percent. 
    Philippines shares rose 0.4 percent, with industrials
and consumer staples stocks leading the gainers. 
    SM Investments Corp rose 1.3 percent, while
Universal Robina Corp climbed 3.1 percent.   
    Thai Shares firmed 0.3 percent to a near five-week
high, with energy shares rising amid higher crude oil prices.

    Oil giant PTT Pcl accounted for most of the gains,
climbing as much as 2.8 percent to a record.
    Singapore shares inched slightly higher, while
Vietnam shares gained 0.2 percent, extending Monday's 1.1
percent gain.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change at 0352 GMT

 Market          Current   Previous close  Pct Move
 Singapore       3561.46   3555.85         0.16
 Bangkok         1839.71   1834.18         0.30
 Manila          8532.48   8499.98         0.38
 Jakarta         6583.313  6554.673        0.44
 Kuala Lumpur    1870.22   1860.08         0.55
 Ho Chi Minh     1116.99   1114.53         0.22
                                           
 Change on year                            
 Market          Current   End prev yr     Pct Move
 Singapore       3561.46   3402.92         4.66
 Bangkok         1839.71   1753.71         4.90
 Manila          8532.48   8,558.42        -0.30
 Jakarta         6583.313  6,355.65        3.58
 Kuala Lumpur    1870.22   1796.81         4.09
 Ho Chi Minh     1116.99   984.24          13.49
 
 (Reporting by Aditya Soni in Bengaluru; Editing by Amrutha
Gayathri)
  
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