March 22, 2018 / 4:43 AM / 4 months ago

SE Asia Stocks-Philippines rebounds, Vietnam hits record

    * Philippine shares up over 1 pct, partially recover week's
losses
    * Vietnam up for ninth straight session; hits record 
    * Singapore shares fall 0.4 pct

    By Aaron Saldanha
    March 22 (Reuters) - 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.
    The Fed raised its interest rate on Wednesday and reiterated
two more rate increases this year, signalling caution in its
monetary policy tightening pace.
    Philippine shares rose 1.1 percent on broad-based
gains, bouncing back from three straight sessions of sharp
losses. 
    The country has experienced significant foreign fund
outflows over the past few weeks, with the benchmark down about
6.6 percent year-to-date. 
    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.
    Indonesian shares gained 0.4 percent, helped by
gains across the board. Telecom services stocks and materials
contributed the most to the benchmark, which broke a six-session
losing streak on Wednesday.
    Telekomunikasi Indonesia was the top contributor,
rising as much as 1.4 percent to recoup some of its losses last
week.
    The index of the country's 45 most liquid stocks
added 0.4 percent.
    Malaysian shares gained 0.3 percent as financials
and consumer staples rose. Malayan Banking Bhd gained
as much as 1.4 percent.
    Vietnam shares rose 1.6 percent to a record, led by
gains in consumer staples and utilities. Seafood processing firm
Vinh Hoan Corp was up as much as 3.4 percent.
    Meanwhile, Singapore shares lost 0.4 percent, weighed
down by financials, with Oversea-Chinese Banking Corp Ltd
 shedding 1.1 percent.
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS: CHANGE AS AT 0400 GMT
    
  Market                  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
 


 (Reporting by Aaron Saldanha, Additional reporting by Saif
Naqvi in Bengaluru; Editing by Amrutha Gayathri)
  
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