SE Asia Stocks-Philippines rebounds, Vietnam hits record
Thursday, March 22,2018AsemconnectVietnam - Most Southeast Asian stock markets rose on Thursday, with the Philippines bouncing back from steep losses and Vietnam scaling an all-time peak, as the U.S. Federal Reserve's rate outlook for 2018 was seen as less hawkish than expected.
Philippine shares .PSI rose 1.1 percent on broad-based gains, bouncing back from three straight sessions of sharp losses.
The Philippine central bank is expected to leave its benchmark rate steady at its monetary policy meeting on Thursday, on optimism that annual inflation would ease back to its target range next year, a Reuters poll showed on Tuesday.
The Fed maintaining its outlook for a total of three rate increases for the year helps retain the allure of higher yielding assets in emerging markets.
Telekomunikasi Indonesia TLKM.JK was the top contributor, rising as much as 1.4 percent to recoup some of its losses last week.
Vietnam shares .VNI rose 1.6 percent to a record, led by gains in consumer staples and utilities. Seafood processing firm Vinh Hoan Corp VHC.HM was up as much as 3.4 percent.
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|
Current |
Previous close |
Pct Move |
Singapore |
3498.58 |
3511.13 |
-0.36 |
Bangkok |
1809.46 |
1801.43 |
0.45 |
Manila |
7998.25 |
7909.07 |
1.13 |
Jakarta |
6339.192 |
6312.831 |
0.42 |
Kuala Lumpur |
1871.81 |
1865.8 |
0.32 |
Ho Chi Minh |
1177.59 |
1159.39 |
1.57 |
Change so far in 2018
Market |
Current |
End 2017 |
Pct Move |
Singapore |
3498.58 |
3402.92 |
2.81 |
Bangkok |
1809.46 |
1753.71 |
3.18 |
Manila |
7998.25 |
8558.42 |
-6.55 |
Jakarta |
6339.192 |
6355.654 |
-0.26 |
Kuala Lumpur |
1871.81 |
1796.81 |
4.17 |
Ho Chi Minh |
1177.59 |
984.24 |
19.64 |
Source: Reuters
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