June 14, 2017 / 10:23 AM / a month ago

SE Asia Stocks-Indonesia hits record closing high; Vietnam scales 9-yr peak

3 Min Read

    By Nicole Pinto
    June 14 (Reuters) - Indonesian shares hit a record closing
high on Wednesday, with most markets in the region rising ahead
of a likely rate increase by the U.S. Federal Reserve, with
investors awaiting more clarity on its future stance.
    Indonesia surged 1.5 percent, buoyed by financials,
while Vietnam hit a nine-year closing high. 
    Economists polled by Reuters overwhelmingly see the Fed
raising its benchmark rate to a target range of 1.00 percent to
1.25 percent, though expectations for further rate raises are
fading.
    The Fed is scheduled to announce its monetary policy
decision at 1800 GMT.
    "In the light of weak economic data released by the U.S.
recently, we are really expecting they won't raise rate anymore
this quarter," said Mikey Macanaig, an analyst with
Sunsecurities Inc. 
    "However, we are still very cautious; we don't want any
surprises." 
    In Indonesia, the top gainer in the region, Astra
Internation Tbk PT climbed 4 percent and Bank Rakyat
Indonesia (Persero) Tbk Pt rose 2.6 percent.
    Among gainers in Vietnam, heavyweights Saigon Beer Alcohol
Beverage Corp and Petrovietnam Gas Joint Stock Corp
 gained 2.6 percent and 2.3 percent, respectively. 
    Philippine shares rose 0.6 percent after the previous
day's decline of 0.9 percent.    
    Singapore shares edged down 0.1 percent, with the
financial sector accounting for nearly half the losses. 
    The index was dragged down by DBS Group Holdings
and UOL Group Ltd, which fell 0.9 percent and 2.3
percent, respectively. 
    
For Asian Companies click;  
    
  STOCK MARKETS                                        
  Change on the                                        
 day                                          
  Market           Current       previous     Pct Move
                                 close        
  Singapore        3253.43       3257.52      -0.13
  Bangkok          1577.28       1572.36      0.30
  Manila           7966.01       7917.89      0.61
  Jakarta          5792.897      5707.645     1.49
  Kuala Lumpur     1792.35       1784.44      0.44
 Ho Chi Minh       760.77        756.89       0.51
                                              
  Change so far                               
 this year                                    
  Market           Current       End prev yr  Pct Move
  Singapore        3253.43       2880.76      12.94
  Bangkok          1577.28       1542.94      2.21
  Manila           7966.01       6840.64      16.5
  Jakarta          5792.897      5296.711     9.37
  Kuala Lumpur     1792.35       1641.73      9.17
 Ho Chi Minh       760.77        664.87       14.4
 



 (Editing by Amrutha Gayathri)
  

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