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CORRECTED-SE Asia Stocks-Rise slightly on prospects of less hawkish Fed
March 21, 2017 / 5:19 AM / 6 months ago

CORRECTED-SE Asia Stocks-Rise slightly on prospects of less hawkish Fed

 (Corrects milestone in paragraph six to 21-month from 15-month)
    By Sindhu Chandrasekaran
    March 21 (Reuters) - Most Southeast Asian stock markets rose
on Tuesday, in line with Asian peers on the prospects of a less
hawkish U.S. Federal Reserve policy trajectory.
    Expectations that the Fed will have to step up rate hikes to
counter inflationary pressure from President Donald Trump's
stimulus are also waning after the U.S. central bank dropped no
hints of an acceleration in credit tightening last
week.
    Chicago Federal Reserve President Charles Evans, in one of
the first official comments after the Fed raised rates as
expected, reiterated that message on Monday.
    "For now I think the Federal Reserve's accommodative
monetary stance is enough of a relief to drive the markets
higher," said Taye Shim, head of research at Jakarta-based Mirae
Asset Sekuritas, adding that investors were also factoring in
the Fed stance that it would let inflation overshoot its 2
percent target.
    "There is a little bit more room for the Federal Reserve to
manoeuvre its monetary policy. So I would not be so stuck with
the Federal Reserve's guidance of three rate hikes this year, I
think there is still possibility that it's going to be two rate
hikes this year," said Shim.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 rose 0.1 percent, staying near a 21-month high
touched on Monday.
    Indonesian shares were headed for their sixth
session of gains in seven, supported by energy and financial
stocks.
    Coal mines operator Baramulti Sukses Sarana Tbk
and PT Bank Central Asia Tbk both hit record highs,
gaining as much as 24.14 percent and 1.24 percent respectively.
    Philippine shares also climbed on the back of gains
in industrials and financials. International Container Terminal
Services Inc rose as much as 4.2 percent, while BDO
Unibank Inc climbed up to 1.7 percent.
    Thailand eked out a marginal gain, extending gains
into a fourth straight session, with energy stocks accounting
for more than half of the gains.
    Malaysia rose as much as 0.5 percent to its highest
since May 2015. Malayan Banking Bhd gained 1 percent.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: Change at 0432 GMT
    
  Market           Current       previous     Pct Move
                                 close        
  Singapore        3160.96       3165.7       -0.15
  Bangkok          1565.1        1563.54      0.10
  Manila           7341.7        7316.57      0.34
  Jakarta          5548.137      5533.992     0.26
  Kuala Lumpur     1752.77       1749.41      0.19
  Ho Chi Minh      715.74        715.07       0.09
                                              
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3160.96       2880.76      9.73
  Bangkok          1565.1        1542.94      1.44
  Manila           7341.7        6840.64      7.3
  Jakarta          5548.137      5296.711     4.75
  Kuala Lumpur     1752.77       1641.73      6.76
  Ho Chi Minh      715.74        664.87       7.7
 

 (Reporting by Sindhu Chandrasekaran; Editing by Subhranshu
Sahu)
  

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