September 18, 2014 / 9:21 AM / 3 years ago

SE Asia Stocks-Philippine at over 1-week closing high; Malaysia up ahead of rate decision

BANGKOK, Sept 18 (Reuters) - The Philippine key index scaled
a more than one-week closing high on Thursday amid foreign
inflows into large cap property shares while banking stocks
outperformed in Malaysia ahead of the central bank's decision on
interest rates.
    Most other Southeast Asian stock markets traded in the
positive territory after the U.S. Federal Reserve on Wednesday
renewed its pledge to keep interest rates near zero for a
"considerable time".  
    The Philippine composite index rose 0.8 percent to
7,287.29, the highest close since Sept. 8, amid foreign-led
buying, which sent shares of property firm SM Prime Holdings Inc
 3.8 percent higher, stock exchange data showed.
    In Kuala Lumpur, gains in interest rate-sensitive banking
shares, including Public Bank and Maybank,
helped lift Malaysia's main index which was up 0.02
    Slower household credit growth, and stuttering factory
output and exports could persuade Malaysia's central bank
against raising interest rates for a second time in three
months, but some analysts reckon a 25 basis point increase
remains likely. 
    Malaysia's central bank is due to announce the rate decision
later in the day.
    Foreign inflows boosted shares of Indonesian banks. Bank
Negara Indonesia gained almost 3 percent and Bank
Mandiri traded up 1.5 percent.
    Among the regional bright spots, shares of Thai property
firm Bangkok Land rose 1 percent after the company
said an initial public offering of its Impact Growth Real Estate
Investment Trust (REIT) IPO-IMPACT.BK this week was
For Asian Companies click;  
For South East Asia Hot Stock reports, click;

 Change at 0902 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3300.15       3296.48       +0.11
 Kuala Lumpur       1845.32       1843.78       +0.08
 Bangkok            1581.23       1570.64       +0.67
 Jakarta            5208.14       5188.18       +0.38
 Manila             7287.29       7231.84       +0.77
 Ho Chi Minh         615.80        625.66       -1.58
 (1 US dollar = 44.4200 Philippine peso)

 (Reporting by Viparat Jantraprap; Editing by Anupama Dwivedi)
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