By Aparajita Saxena
Sept 21 Most Southeast Asian stock markets
recovered from losses earlier in the day to end higher, echoing
a surge in wider Asian stocks after the Bank of Japan said it
would overhaul monetary policy and steepen the yield curve.
At a two-day rate review that ended on Wednesday, 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 zero
Earlier, Japanese stocks rallied, with the Nikkei
and the Topix indexes rising 1.9 percent and 2.7
percent, respectively, after the BOJ said 2.7 trillion yen
($26.60 billion) of its exchange traded fund purchases would be
linked to the bank-heavy Topix index.
MSCI's broadest index of Asia-Pacific shares outside Japan
was up 0.7 percent.
We expect most Asian shares to keep climbing in the
short-term, and the yen to continue falling after today's
announcement, said Victor Felix, an analyst with AB Capital
The yen recovered from lows on Wednesday, with investors
sceptical about whether the Bank of Japan's latest measures will
be enough to generate inflation.
Thai shares led the region, their sixth gain in
seven sessions, with financials rising the most.
Siam Commercial Bank was up 1 percent.
Energy companies also rose after global oil prices jumped
more than 1 percent, helped by a reported draw in U.S. crude
inventories and a strike by oil services workers in Norway that
threatened to impact output.
PTT PCL, Thailand's largest energy firm, climbed
Indonesia closed 0.8 percent higher, buoyed by
consumer discretionary and financial stocks.
Indonesia's central bank will likely cut its benchmark
interest rate for the fifth time this year on Thursday to try to
spur economic growth, a Reuters poll showed.
Malaysia was up slightly, with data on Wednesday
showing inflation rose faster than expected in August and above
the previous month's pace.
Vietnam rose 0.8 percent on gains in financial
Singapore was down marginally, while Philippine
shares ended flat.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Previous Pct Move
Singapore 2850.74 2854.69 -0.14
Bangkok 1487.17 1473.78 0.91
Manila 7675.42 7671.72 0.05
Jakarta 5342.592 5302.493 0.76
Kuala Lumpur 1658.73 1655.78 0.18
Ho Chi Minh 668.48 663.37 0.77
Change this year
Market Current End 2015 Pct Move
Singapore 2850.74 2882.73 -1.11
Bangkok 1487.17 1288.02 15.46
Manila 7675.42 6952.08 10.40
Jakarta 5342.592 4593.008 16.32
Kuala Lumpur 1658.73 1692.51 -2.00
Ho Chi Minh 668.48 579.03 15.45
($1 = 101.5200 yen)
(Reporting by Aparajita Saxena in Bengaluru; Editing by Biju