|Published : 19 Sep 2016, 11:19:52|
SE Asian stocks up ahead of key central bank meetings
Most Southeast Asian stock markets were trading higher on Monday, tracking gains in Asian peers, ahead of crucial central bank meetings in the United States and Japan.
The Federal Reserve is set for a lively debate on Tuesday and Wednesday and could give a clear signal of an interest rate rise to come even if it follows market expectations for a pause this month.
The Bank of Japan meets on Wednesday and could well go in the opposite direction by easing policy, though conflicting reports on what it might do have stoked much uncertainty.
Indonesian shares outperformed other markets in the region and were headed for their third straight session of gains, helped by telecom services stocks including Telekomunikasi Indonesia (Persero) Tbk PT.
Singapore shares were marginally higher, helped by gains in oil stocks as global crude prices rose almost 2.0 per cent.
Rig builders Keppel Corp and Sembcorp Industries rose 0.6 per cent and 0.4 per cent, respectively.
Vietnam shares rose after five consecutive sessions of falls, supported by financial stocks.
Vietcom Bank gained 3.29 per cent.
Malaysia was little changed, while Philippines receded 0.2 per cent.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 1.1 per cent, according to Reuters.