Indonesia, Philippine at 1-week high amid Fed rate speculation

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(SE Asia Stocks: Wed 17/09/14 19:15:28)

BANGKOK (Sept 17): Stocks in Indonesia and the Philippines hit one-week highs on Wednesday, amid speculation the U.S. Federal Reserve will maintain a pledge on low rates, with banking shares leading gains in Thai market after the central bank kept rate steady.

The Fed will wrap up its two-day policy meeting later on Wednesday.

Foreign-led buying boosted Indonesian large-caps such as Telkom Indonesia, sending Jakarta's composite index 1.1 percent higher at 5,188.18 — the highest close since Sept 09.

The Philippine stock market saw foreign inflows into shares such as BDO Unibank and Bank of the Philippine Islands, which brought the key index to 7,231.84 — the highest close since Sept 09.

Investors in Bangkok bought interest sensitive banking stocks, after the Bank of Thailand maintained its policy rate at 2 percent as expected.

Shares of Bangkok Bank jumped 2.4 percent to a one-week closing high.

The SET index was up 0.3 percent, rebounding from a more than two-week closing low, hit in the previous session. It had risen 21 percent so far this year, with retail investors dominating about two-thirds of daily trading value.

Thailand's Securities and Exchange Commission (SEC) has asked stock market authorities and brokerage firms to strictly monitor trading in share markets.

Change on day
Market             Current     Prev Close    Pct Move
Singapore          3296.48       3272.62       +0.73
Kuala Lumpur       1843.78       1847.30       -0.19
Bangkok            1570.64       1565.41       +0.33
Jakarta            5188.18       5130.50       +1.12
Manila             7231.84       7180.34       +0.72
Ho Chi Minh         625.66        627.66       -0.32

Change on year
Market             Current       End 2013    Pct Move
Singapore          3296.48       3167.43       +4.07
Kuala Lumpur       1843.78       1866.96       -1.24
Bangkok            1570.64       1298.71      +20.94
Jakarta            5188.18       4274.18      +21.38
Manila             7231.84       5889.83      +22.79
Ho Chi Minh         625.66        504.63      +23.98

(1 US dollar = 32.2300 Thai baht)