July 18, 2019 / 4:06 AM / 5 months ago

SE Asia Stocks-Trade in tight range as Fed's sunny outlook tempers sharp rate-cut hopes

    * Indonesia flat ahead of rate decision
    * Philippines top gainer  

    By Soumyajit Saha
    July 18 (Reuters) - Most Southeast Asian stock markets
traded in a tight range on Thursday, as the U.S. Federal
Reserve's bright domestic economic outlook curbed expectations
of extensive policy easing and renewed tariff-war fears soured
risk appetite.
    The Fed's Beige Book portrayed an economy that was largely
in good shape ahead of a July 30-31 meeting at which the central
bank is widely expected to reduce interest rates.
    Investors would likely remain in a "risk-off" mood, ING
Group said in a note to clients. Markets are likely to "move
sideways with a downward bias, digesting trade war concerns and
the Fed Beige Book," it added.
    Risk sentiment was also dampened after U.S. President Donald
Trump on Tuesday threatened to impose tariffs on an additional
$325 billion of Chinese goods if a trade deal did not come
through.
    Singapore stocks fell slightly, hurt by the real
estate sector. CapitaLand Ltd declined 1.1%, while
Hongkong Land Holdings slipped 0.5%.
    Malaysian shares inched lower, dragged by resources
stocks. Petronas Chemicals Group was down about 3.5%.
    Indonesian stocks were flat as losses in the
financial sector offset gains in the resources and consumer
sectors. 
    Market participants awaited the central bank's policy rate
decision due later in the day. The Bank Indonesia is expected to
trim its 7-day reverse repo rate by 25 basis points, according
to a Reuters poll.
    Philippine shares rose, helped by gains in the
financial and industrial sectors.
    Miguel Ong, a research analyst with AP Securities,
attributed it to expectations of strong second-quarter earnings.
    "Macro indicators are showing that there's a huge upside in
terms of Q2 earnings," he said.  
        
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0337 GMT
 Market                 Current   Previous close  Pct Move
 Singapore              3359.14   3364.87         -0.17
 Bangkok                1718.18   1718.85         -0.04
 Manila                 8259.43   8233.48         0.32
 Jakarta                6394.943  6394.609        0.01
 Kuala Lumpur           1655.86   1657.53         -0.10
 Ho Chi Minh            977.68    982.57          -0.50
                                                  
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3359.14   3068.76         9.46
 Bangkok                1718.18   1563.88         9.87
 Manila                 8259.43   7,466.02        10.63
 Jakarta                6394.943  6,194.50        3.24
 Kuala Lumpur           1655.86   1690.58         -2.05
 Ho Chi Minh            977.68    892.54          9.54
 
 (Reporting by Soumyajit Saha; Editing by Subhranshu Sahu)
  
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