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Southeast Asian stocks tepid ahead of Fed meeting

Published: June 18, 2019 13:46:59 | Updated: June 21, 2019 12:32:13


File Photo (Collected)

Most Southeast Asian stock markets traded in a tight range on Tuesday as caution ahead of the US Federal Reserve's two-day policy meeting kept investors on the sidelines.

Singapore shares rose 0.9 per cent, heading for their first session of gain in three, with conglomerate Jardine Matheson Holdings adding 1.3 per cent and Venture Corp climbing 1.8 per cent.

The market recovered from the previous session's losses as weak data raised expectations of a possible monetary easing in October.

Financials were among the top gainers, with lenders such as Oversea-Chinese Banking Corp climbing 0.9 per cent, while DBS Group added 0.7 per cent.

Indonesian stocks rebounded from the previous session's drop. Telekomunikasi Indonesia Tbk added 1.0 per cent, while cigarette manufacturer Gudang Garam Tbk advanced 0.8 per cent.

Malaysian stocks edged higher, with telecom company Axiata Group up 1.3 per cent.

Vietnamese stocks edged lower, dragged mainly by financials.

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