October 30, 2019 / 4:12 AM / a month ago

SE Asia Stocks-Most trade in narrow range ahead of Fed decision; Singapore gains

    * U.S. cenbank decision later in the day
    * Singapore stocks lead gains in the region
    * Philippine shares fall on consumer, industrial stocks

    By Anushka Trivedi
    Oct 30 (Reuters) - Most Southeast Asian markets moved in a
thin range on Wednesday, amid gains in Singapore shares, as
cautious investors waited for the U.S. Federal Reserve's
decision on interest rates. 
    The U.S. central bank is expected dish out a quarter
percentage-point rate cut for the third time this year,
expectations of which have bolstered global equities over the
past few weeks.
    OCBC analysts said in a note that while policy easing has
largely been priced in, "uncertainty remains if it would be a
hawkish rate cut with Jerome Powell signalling a wait and see
mode from here".   
    Adding to the cautious mood was a Reuters report that an
interim trade deal between the United States and China might not
be completed in time for signing in Chile next month as
expected.      
    Philippine shares fell as consumer and industrial
stocks weighed on the benchmark. 
    Heavyweight SM Investments Corp slipped 0.9% and
conglomerate Alliance Global Group Inc fell 2.5%.
    The Malaysian bourse was flat, with palm oil
producer Sime Darby Plantation being the biggest drag
on the index. The stock fell nearly 3%. 
    Indonesian shares pared early losses to tick up due
to a rally in energy stocks.
    Coal miner PT Bayan Resources TBK surged 19.6% and
was set for its best session in over a year.
    Meanwhile, Singapore's benchmark index edged up 0.3%
and was on track to rise for second straight session. 
    Fed's rate cut is seen benefiting the city-state's
industrial, real estate and consumer sectors, according to
analysts at CMC Singapore Market. 
    Industrial conglomerate Jardine Strategic Holdings Ltd
 advanced 0.6%, while food processor Wilmar
International Ltd rose 0.5%. 
    Gains in Singapore's heavyweight banking stocks also aided
the benchmark.
    Vietnam stocks rose 0.4%, buoyed by financials. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
  Change on the day                                         
  Market             Current        Previous      Pct Move
                                    close         
  Singapore          3207.46        3197.04       0.29
  Bangkok            1594.11        1591.21       -0.08
  Manila             7968.44        7991.19       -0.23
  Jakarta            6285.798       6281.138      0.08
  Kuala Lumpur       1576.32        1577.79       -0.09
 Ho Chi Minh         998.37         995.87        0.35
                                                  
  Change so far in                                
 2019                                             
  Market             Current        End 2018      Pct Move
  Singapore          3207.46        3068.76       4.48
  Bangkok            1594.11        1563.88       1.67
  Manila             7968.44        7,466.02      6.79
  Jakarta            6285.798       6,194.50      1.48
  Kuala Lumpur       1576.32        1690.58       -6.76
  Ho Chi Minh        998.37         892.54        11.97
 

 (Reporting by Anushka Trivedi in Bengaluru; editing by
Uttaresh.V)
  
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