June 14, 2017 / 5:32 AM / 5 months ago

SE Asia Stocks-Most rise tracking Wall Street; Singapore slips

    By Nicole Pinto
    June 14 (Reuters) - Most Southeast Asian stock markets rose
on Wednesday, drawing heart from record gains on Wall Street in
the previous session, while investors awaited clarity on the
Federal Reserve's future path for U.S. policy after a likely
rate hike later in the day.
    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 hikes are
fading.
    The Fed is scheduled to announce its monetary policy
decision at 1800 GMT later in the day at the end of a two-day
policy meeting, followed by a press conference by Chair Janet
Yellen.
    The Fed may also provide more clues on how it plans to
reduce its holdings of more than $4 trillion in Treasuries and
mortgage-backed securities. 
    "There's some spillover from last night's performance of the
U.S. stock markets," said Mikey Macanaig, an analyst with
Sunsecurities Inc, adding that he expected the Fed would not
raise rates anymore this quarter after the June hike in the
light of recent weak economic data. 
    "However, we are still very cautious; we don't want any
surprises," he said.
    Meanwhile, data out of China showed retail sales and
industrial output topped forecasts in May, but a miss in urban
investment reinforced views the world's second-largest economy
will soon start to lose some momentum as lending costs rise and
the property market cools.
    Analysts dismissed the Chinese data as having little effect
on the direction of the Southeast Asian stock markets.
    Indonesian shares rose as much as half a percent,
outperforming other markets in the region, on the back of gains
in financials and basic materials.
    Bank Rakyat Indonesia (Persero) Tbk PT and Bank
Mandiri (Persero) Tbk PT were up 0.7 percent and 1.6
percent, respectively.
    Malaysian shares were up 0.3 percent, buoyed by
gains in consumer-driven stocks and telcos. Entertainment firm
Astro Malaysia Holdings and lender CIMB Group
 were the biggest gainers.
    Singapore and Philippine shares dropped 0.2
percent each. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
  Change on the                                        
 day at 0438 GMT                              
  Market           Current       Previous     Pct Move
                                 Close        
  Singapore        3251.02       3257.52      -0.20
  Bangkok          1574.44       1572.36      0.13
  Manila           7904.11       7917.89      -0.17
  Jakarta          5735.011      5707.645     0.48
  Kuala Lumpur     1790.29       1784.44      0.33
 Ho Chi Minh       758.95        756.89       0.27
                                              
  Change so far                               
 this year                                    
  Market           Current       End prev yr  Pct Move
  Singapore        3251.02       2880.76      12.85
  Bangkok          1574.44       1542.94      2.04
  Manila           7904.11       6840.64      15.50
  Jakarta          5735.011      5296.711     8.27
  Kuala Lumpur     1790.29       1641.73      9.05
 Ho Chi Minh       758.95        664.87       14.20
 
 (Reporting by Nicole Pinto in Bengaluru; Editing by Subhranshu
Sahu)
  

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