|Published : 15 Mar 2017, 14:22:17|
Southeast Asian stocks flat ahead of Fed decision
Southeast Asian stock markets were nearly unchanged on Wednesday as investors wait to see what cues the US Federal Reserve would reveal on its monetary policy outlook.
The Fed began its two-day policy meeting on Tuesday. The Fed will announce its decision at 2:00 pm in Washington, followed by Chair Janet Yellen's news conference half an hour later.
Investors are just waiting for the final outcome of the Fed meeting, said Joseph Roxas, president of Manila-based Eagle Equities Inc.
Meanwhile, the Indonesian central bank is expected to keep its benchmark rate unchanged even if the Fed raises rates, a Reuters poll shows.
Indonesian shares were marginally higher with retailer Indoritel Makmur Internasional rising as much as 25 per cent.
Singapore shares were almost flat after shedding nearly 1.0 per cent earlier. Industrial stocks Jardine Matheson and Singapore Technologies Engineering fell more than 0.8 per cent each.
Malaysian stocks were down after three sessions of gains with consumer and financial stocks leading the decline.
IOI Corp fell 1.3 per cent, while Malayan Banking dropped 1.2 per cent, according to Reuters.