SE Asia Stocks-Most gain as Fed hints at rate cuts; Philippines slips

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 * Philippine, Indonesian cenbank decisions due later * Asian central banks expected to follow Fed's stance By Rashmi Ashok June 20 (Reuters) - Most Southeast Asian stock markets edged
higher on Thursday, as dovish comments from the U.S. Federal
Reserve boosted global equities, while signs that Sino-U.S.
trade talks were set to resume also helped sentiment. 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 were the top performers in Southeast
Asia, heading for a fifth winning session in six. Lender DBS
Group Holdings was among the top gainers, up 1.5%. Thailand, Malaysia and Vietnam
notched modest gains. Meanwhile, market participants keenly await policy decisions
from the Philippine and Indonesian central banks due later in
the day. The Bangko Sentral ng Pilipinas (BSP) is expected cut
benchmark rates for the second meeting in a row, though a
Reuters poll suggested it would be a close call as policymakers
try to strike a balance between supporting growth and curbing
inflation pressures. "After cutting (rates by) 25 bps (basis points) in May, the
main uncertainty now is how patient BSP will be in allowing for
impact of the latest rate cut to materialize and we think that
another rate cut this week can't be ruled out," analysts at
Mizuho Bank said in a note. Philippine stocks slipped in thin trade as investors
adopted a wait-and-watch stance ahead of the central bank's rate
decision. Volumes were at a small fraction of their 30-day
average. Large-cap industrial stocks accounted for most of the
losses, with conglomerates SM Investments Corp and JG
Summit Holdings declining 1.9% and 2.1%, respectively. Indonesian stocks inched lower after adding 2.4% in
the previous two sessions. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS at 0307 GMT Change on the day Market Current Previous close Pct Move Singapore 3311.11 3288.17 0.70 Bangkok 1710.84 1705.98 0.28 Manila 7975.83 8017.01 -0.51 Jakarta 6331.927 6339.262 -0.12 Kuala Lumpur 1668.98 1666.54 0.15 Ho Chi Minh 950.61 949.69 0.10 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3311.11 3068.76 7.90 Bangkok 1710.84 1563.88 9.40 Manila 7975.83 7,466.02 6.83 Jakarta 6331.927 6,194.50 2.22 Kuala Lumpur 1668.98 1690.58 -1.28 Ho Chi Minh 950.61 892.54 6.51 (Reporting by Rashmi Ashok; Editing by Subhranshu Sahu) 

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