October 30, 2019 / 10:07 AM / 23 days ago

SE Asia Stocks-Rise on hopes of Fed's rate cut; Thailand shines

    * U.S. cenbank's rate decision awaited
    * Philippine stocks rise on last-minute buying
    * Thai shares gain; PTTEP posts jump in profit

    By Anushka Trivedi
    Oct 30 (Reuters) - Southeast Asian stock markets edged up on
Wednesday, with Thailand leading the gains, as hopes of a widely
anticipated rate cut by the U.S. Federal Reserve later in the
day boosted risk sentiment.
    The U.S. central bank's likely 25 basis point trim would
mark Fed's third rate-cut this year, while investors would
keenly watch Chairman Jerome Powell's post-meeting conference to
take cues for future policy easing stance.
    There is a "growing sense, and hints from the Fed, that
there may be scope, perhaps even solid justification, for one
more 'insurance' cut at this juncture," Mizuho said in a note.
    Chinese foreign ministry's statement that top Chinese and
U.S. trade negotiators will speak soon in relation to signing an
interim trade deal also aided the positive sentiment.

    This comes after Reuters reported on Wednesday that a
stopgap agreement between the United States and China might not
be completed in time for signing in Chile next month as
expected.
    The Thai benchmark advanced 0.7% to lead the pack in
the region, underpinned by gains in financial and energy stocks.
Bangkok Bank PCL scaled 6% while oil and gas major PTT
Exploration and Production PCL rose 3.4% after
posting a jump in quarterly net profit.    
     The Vietnamese index ended 0.5% higher, buoyed by
financial stocks. Lenders Vingroup JSC and Vietcombank
 rose over 1.5% each.    
    The Philippine index reversed course to end 0.4%
higher, on last-minute buying in index heavyweight stocks. 
    BDO Unibank Inc and Metropolitan Bank and Trust Co
 were among the top gainers as they added 2.4% and 2.2%,
respectively.
     Singapore's main index also edged up 0.3%, with
financials dominating gains on the benchmark. Southeast Asia's
biggest lender DBS Group Holdings Ltd rose 1.3%, while
Oversea-Chinese Banking Corp Ltd added 1%.
    Meanwhile, Indonesian shares were little changed
ahead of its October inflation data, which is expected to slow
down from a month earlier, a Reuters poll showed.

       
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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3206.16   3197.04         0.34
 Bangkok                1599.73   1591.21         0.67
 Manila                 8020.06   7991.19         0.36
 Jakarta                6295.747  6281.138        0.23
 Kuala Lumpur           1580      1577.79         0.14
 Ho Chi Minh            1000.89   995.87          0.50
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3206.16   3068.76         4.53
 Bangkok                1599.73   1563.88         2.43
 Manila                 8020.06   7,466.02        7.42
 Jakarta                6295.747  6,194.50        1.63
 Kuala Lumpur           1580      1690.58         -6.54
 Ho Chi Minh            1000.89   892.54          12.14
 


 (Reporting by Anushka Trivedi in Bengaluru; Editing by Rashmi
Aich)
  
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