(SE Asia Stocks: Wed 17/09/14 19:15:28)
BANGKOK (Sept 17): Stocks in Indonesia and the Philippines hit one-week highs on Wednesday, amid speculation the U.S. Federal Reserve will maintain a pledge on low rates, with banking shares leading gains in Thai market after the central bank kept rate steady.
The Fed will wrap up its two-day policy meeting later on Wednesday.
Foreign-led buying boosted Indonesian large-caps such as Telkom Indonesia, sending Jakarta's composite index 1.1 percent higher at 5,188.18 — the highest close since Sept 09.
The Philippine stock market saw foreign inflows into shares such as BDO Unibank and Bank of the Philippine Islands, which brought the key index to 7,231.84 — the highest close since Sept 09.
Investors in Bangkok bought interest sensitive banking stocks, after the Bank of Thailand maintained its policy rate at 2 percent as expected.
Shares of Bangkok Bank jumped 2.4 percent to a one-week closing high.
The SET index was up 0.3 percent, rebounding from a more than two-week closing low, hit in the previous session. It had risen 21 percent so far this year, with retail investors dominating about two-thirds of daily trading value.
Thailand's Securities and Exchange Commission (SEC) has asked stock market authorities and brokerage firms to strictly monitor trading in share markets.
SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
Singapore 3296.48 3272.62 +0.73
Kuala Lumpur 1843.78 1847.30 -0.19
Bangkok 1570.64 1565.41 +0.33
Jakarta 5188.18 5130.50 +1.12
Manila 7231.84 7180.34 +0.72
Ho Chi Minh 625.66 627.66 -0.32
Change on year
Market Current End 2013 Pct Move
Singapore 3296.48 3167.43 +4.07
Kuala Lumpur 1843.78 1866.96 -1.24
Bangkok 1570.64 1298.71 +20.94
Jakarta 5188.18 4274.18 +21.38
Manila 7231.84 5889.83 +22.79
Ho Chi Minh 625.66 504.63 +23.98
(1 US dollar = 32.2300 Thai baht)