Global
5 years ago

Southeast Asian stocks edge up in hopes of a dovish Fed

Published :

Updated :

Southeast Asian stocks mostly rose on Monday, as investor sentiment buoyed ahead of the US Federal Reserve's policy meeting where the policymakers were expected to remain dovish.

The Vietnam index rose 0.6 per cent, leading the regional gains, buoyed by financial and real estate stocks.

Index heavyweights Joint Stock Commercial Bank for Foreign Trade of Viet Nam rose 2.0 per cent and 1.2 per cent, respectively.

The Indonesian benchmark index rose as much as 0.7 per cent rising to its highest in two weeks in early trade, with financials and consumer stocks boosting the index.

It was up over 0.4 per cent after relinquishing some of the gains, with the country's big lenders Bank Central Asia Tbk PT and Bank Rakyat Indonesia (Persero) Tbk PT gaining as much as 1.1 per cent and 1.3 per cent, respectively.

Singapore stocks rose about 0.4 per cent after data from the trade agency Enterprise Singapore showed a surprise rise in February exports of the country, reports Reuters.

Owing to a surge in China exports, non-oil domestic exports (NODX) of Singapore rose 4.9 per cent in February year-on-year.

Industrials and financials pushed the index higher, with the country's biggest listed bank DBS Group Holdings Ltd advancing 0.6 per cent and Jardine Strategic Holdings Ltd firming 0.7 per cent.

Utilities and healthcare stocks pushed the Malaysian index 0.4 per cent higher with Tenaga Nasional Bhd rising 1.9 per cent and IHH Healthcare Bhd gaining 1.4 per cent.

Meanwhile, the Thai benchmark slipped into the red with consumer and industrial stocks dragging the index 0.4 per cent lower.

CP All PCL and Airports of Thailand PCL dropped 1.3 per cent and 0.7 per cent, respectively.

Share this news