SE Asia Stocks-Most close higher as Fed comments feed risk appetite
* U.S. Fed signals possible interest rate cuts in July * Indonesia and Philippine cenbanks stand pat on interest rates * Central banks say sufficient cause to ease in near future By Rashmi Ashok June 20 (Reuters) - Most Southeast Asian stock markets ended firmer on Thursday, as dovish comments from the U.S. Federal Reserve boosted global equities, while regional central banks flagged similar moves toward looser monetary settings. The Fed on Wednesday signalled interest rate cuts beginning as early as July, saying it was ready to battle growing global and domestic economic risks, in a marked shift in tone since its last policy meeting. The commentary was widely seen as more dovish than expected, sending global stocks higher. Singapore shares, which were among the top boost in the region, extended gains into a third session. The city-state was buoyed by blue-chip stocks such as DBS Group Holdings and Jardine Strategic Holdings. Leading the gains in the region, Vietnam shares closed 1% firmer. Financials largely powered the index, with Vietnam Technological And Commercial Joint Stock Bank adding 2.5%. Thai stocks ended 0.7% higher, underpinned by gains in energy shares, which soared after rising tensions in the Middle East sent oil prices spiking. PTT PCL climbed 1.6%, while PTT Exploration and Production PCL ended at its highest since April 26. Meanwhile, the Philippine central bank kept its benchmark interest rate steady on Thursday, but left the door open to further policy easing as global risks to growth increases and as policymakers expect inflation to slow more than previously expected. Philippine stocks clawed back from early losses to end little changed ahead of the central bank's announcement. Indonesian stocks rebounded from early losses to settle flat after Bank Indonesia decided to keep its policy interest rate unchanged, but moved to cut the reserve requirement for banks for the time being. Malaysian stocks ended higher, with electricity utility provider Tenaga Nasional being the top gainer, while tourist resort operator Genting Malaysia closed up 1.2%. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3314.51 3288.17 0.80 Bangkok 1717.82 1705.98 0.69 Manila 8022.42 8017.01 0.07 Jakarta 6335.698 6339.262 -0.06 Kuala Lumpur 1675.43 1666.54 0.53 Ho Chi Minh 959.18 949.69 1.00 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3314.51 3068.76 8.01 Bangkok 1717.82 1563.88 9.84 Manila 8022.42 7,466.02 7.45 Jakarta 6335.698 6,194.50 2.28 Kuala Lumpur 1675.43 1690.58 -0.90 Ho Chi Minh 959.18 892.54 7.47 (Reporting by Rashmi Ashok in Bengaluru, Editing by Sherry Jacob-Phillips)
