|Published : 16 Mar 2017, 14:07:50|
SE Asian stocks rise, tracking overnight rally in global shares
Southeast Asian stocks rose on Thursday tracking an overnight rally in global shares after Federal Reserve Chair Janet Yellen's comments.
US stocks closed sharply higher on Wednesday. However, banking shares were among the top gainers in Southeast Asia.
Wider Asian markets rose as much as 1.4 per cent to their highest level in 20 months.
Indonesia rose as much as 1.13 per cent to a near two-year high, led by Bank Rakyat and Bank Central Asia.
The Indonesia index of the 45 most liquid stocks rose 1.35 per cent to its highest in four months.
Gains in Singapore were led by oil rig builder Keppel Corp on the back of oil rallies and a weaker dollar that makes the greenback-denominated oil less expensive for holders of other currencies.
Malaysia's second-largest lender by assets CIMB Group led the gains in financials, soaring to its highest in 20 months, adding 2.9 points to the index.
Gains in Thailand were led by energy and industrials while financials were among the top gainers in Vietnam, according to Reuters.