March 21, 2019 / 3:52 AM / 3 months ago

SE Asia Stocks-Most rise on Fed's dovish stance; Philippines leads gains

    * Philippines rises to three week high
    * Indonesia, Philippines cenbank decisions expected

    By Shreya Mariam Job
    March 21 (Reuters) - Most Southeast Asian stock markets rose
on Thursday, with Philippines leading the pack, after the U.S.
Federal Reserve announced a more dovish stance than expected for
the year, but concerns of global growth and possible
complications in Sino-U.S. trade talks limited gains. 
    The U.S. Federal Reserve knocked the number of hikes
expected this year to zero from the two forecast in December
citing rising economic risks and downgraded their U.S. growth,
unemployment and inflation forecasts raising concerns of the .

    At the regional front, Bank Indonesia and the Philippine
central bank are expected to announce their rate decisions later
in the day with analysts predicting both to keep rates unchanged
with easing expected this year. 
    "With the Fed signalling an extended pause, rate cut bets
should build across Asian economies, especially those where real
rates are still elevated (Indonesia, India, Philippines,
Malaysia," Eugene Leow, rates strategist and Philip Wee, FX
strategist at DBS Group Research said in a note. 
    Meanwhile, U.S. President Donald Trump had warned on
Wednesday that the United States may leave tariffs on Chinese
goods for a "substantial period" to ensure that Beijing complies
with any trade agreement souring risk sentiment.
    Industrial stocks boosted the Philippine index to
rise to its highest in more than three weeks ahead of the
central bank policy meeting. 
    Shares of JG Summit Holdings Inc and Aboitiz Equity
Ventures Inc gained 4 percent and 3.2 percent,
respectively. 
    The Thai benchmark rose 0.5 percent after a rise in
February exports, on the back of industrials and energy stocks.
    Thai February Customs-Cleared exports rose 5.91 percent
while imports fell 10 percent.
    Shares of PTT Exploration and Production Pcl
firmed 1.7 percent, while those of Airports of Thailand Pcl
 rose 0.7 percent. 
    Malaysian index erased early gains to drop 0.6
percent and was the worst performer in the region ahead of Feb
inflation data expected on Friday.
    Malaysia's consumer prices are expected to fall again in
February, but at a slower rate than the previous month, a
Reuters poll showed
    Financial stocks took a hit on the index with Malayan
Banking Bhd  and Public Bank Bhd shedding
1.1 percent and 1.6 percent, respectively.
    Meanwhile, the remaining Southeast Asian stock markets
traded sideways. 
    

    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS at 0341 GMT
    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3208.74   3207.66         0.03
 Bangkok                1636.32   1627.62         0.53
 Manila                 7915.72   7858.2          0.73
 Jakarta                6493.125  6482.71         0.16
 Kuala Lumpur           1674.19   1684.21         -0.59
 Ho Chi Minh            1000.66   1002.3          -0.16
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3208.74   3068.76         4.56
 Bangkok                1636.32   1563.88         4.63
 Manila                 7915.72   7,466.02        6.02
 Jakarta                6493.125  6,194.50        4.82
 Kuala Lumpur           1674.19   1690.58         -0.97
 Ho Chi Minh            1000.66   892.54          12.11
 


 (Reporting by Shreya Mariam Job in Bengaluru; Editing by Rashmi
Aich)
  
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