July 19, 2019 / 10:22 AM / a month ago

SE Asia Stocks-Rise on fresh Fed rate-cut bets; Indonesia leads

    * Indonesia's central bank notes strength in data
    * Fitch upgrades Thailand's outlook

    By Soumyajit Saha
    July 19 (Reuters) - Southeast Asian stock markets ended
higher on Friday with Indonesia leading the pack, as global
shares cheered a revival of deeper U.S. rate-cut hopes following
distinctly dovish commentary from two top Federal Reserve
officials.
    Fed Vice Chair Richard Clarida and New York Fed President
John Williams urged policymakers to be proactive in stimulating
the economy amidst rising risks, and not wait for potential
economic problems to materialize.
    The comments almost sealed the Fed cutting rates by 25 basis
points and revived hopes of an even deeper 50 basis points cut.
    "No matter how you dissect Fed Williams comments when
combined with an equally dovish Fed Clarida, if it looks like a
dove and coos like a dove, it's probably a dove," said Stephen
Innes, managing partner at Vanguard Markets, in a note.
    Indonesian shares rose to their highest close in
over 12 weeks and led the regional pack, boosted by financial
and consumer stocks. The benchmark rose 1.3% over the week.
    Central bank Governor Perry Warjiyo said Indonesia's
economic indicators, including results of business and banking
surveys, showed an improvement in activity at the start of the
third quarter.
    Lender Bank Central Asia gained 0.7%, while
cigarette maker Hanjaya Mandala Sampoerna rose 2.6%.
    An index of Indonesia's 45 most liquid stocks rose
0.8%.
    Thai stocks rose for the ninth consecutive week.
    Strength in external and public finances in Thailand have
endured over several years, leading to increasing confidence
that "lingering political risks are unlikely to derail sound
macroeconomic management", said credit rating agency Fitch.

    Lender Siam Commercial Bank rose 1.4%, while
restaurant owner Minor International rose 4.3%.  
    Singapore stocks advanced, pushed up by the financial
sector. The index reversed course from last week to gain 0.6%
over this week.
    Philippine shares rose slightly, and gained for the
second consecutive week. Malaysian stocks gained for the
day, but fell 0.7% over the week.

For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3377.96   3361.05         0.50
 Bangkok                1735.1    1723.44         0.68
 Manila                 8270.07   8258.05         0.15
 Jakarta                6456.539  6403.294        0.83
 Kuala Lumpur           1658.19   1648.93         0.56
 Ho Chi Minh            982.34    976.05          0.64
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3377.96   3068.76         10.08
 Bangkok                1735.1    1563.88         10.95
 Manila                 8270.07   7,466.02        10.77
 Jakarta                6456.539  6,194.50        4.23
 Kuala Lumpur           1658.19   1690.58         -1.92
 Ho Chi Minh            982.34    892.54          10.06
  

 (Reporting by Soumyajit Saha; editing by Gopakumar Warrier)
  
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