|Published : 22 Sep 2016, 13:51:37|
SE Asian stocks rise after Fed kept interest rates unchanged
Southeast Asian stocks rose on Thursday, reflecting gains in Asian peers, with financials leading the rise after the Federal Reserve kept US interest rates unchanged and projected a less aggressive path for rate hikes in the coming years.
MSCI's broadest index of Asia-Pacific shares outside Japan extended gains to 1.3 per cent in its sixth straight session of increases.
Indonesian shares were headed for their fifth session of gains in six, with aluminium company PT Alakasa Industrindo rising 24 per cent to its highest since March 1994.
Philippine shares were on track for a fourth straight session of gains, with Metro Pacific Investments Corp up 2.6 per cent.
Malaysian shares extended gains into a third straight session after data released on Wednesday showed inflation rose faster than expected in August.
Singapore shares were marginally higher after the previous session's losses ahead of August inflation data due on Friday, according to a news agency report.