Southeast Asian stocks flat

Dhaka,  Monday,   2016-09-20
Published : 20 Sep 2016, 12:00:35

Southeast Asian stocks flat

Southeast Asian stocks flat
Most Southeast Asian stock markets were flat with a negative bias on Tuesday as investors nervously awaited the outcome of the central bank meetings in Japan and the United States.

BOJ officials have suggested that there is room to cut interest rates further, despite criticism that they are hurting financial institutions and even damaging economic sentiment.

Investors are also keeping an eye on the meeting of the Federal Reserve, which is expected to keep interest rates unchanged in September, for any hints on the timing of a rate hike.

Thai shares fell 1.0 per cent to snap five sessions of gains, underperforming other markets in the region.

Financials led the falls with Kasikornbank Pcl, Thailand's fourth-largest lender by assets, shedding 1.3 per cent.

Singapore shares were marginally lower with energy stocks declining on a decline in global oil prices.

Indonesian shares eased after the previous session's surge, with news company Tempo Inti Media Tbk PT as the biggest percentage loser.

Indonesia's central bank likely will cut its benchmark interest rate for the fifth time this year on Thursday to try to spur economic growth.

Bucking the trend, Philippine shares rose 0.7 per cent with financial stocks driving the gains, according to a news agency report.

-SRS-
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