* U.S. Fed signals possible interest rate cuts in July
* Indonesia and Philippine cenbanks stand pat on interest
rates
* Central banks say sufficient cause to ease in near future
By Rashmi Ashok
June 20 (Reuters) - Most Southeast Asian stock markets ended
firmer on Thursday, as dovish comments from the U.S. Federal
Reserve boosted global equities, while regional central banks
flagged similar moves toward looser monetary settings.
The Fed on Wednesday signalled interest rate cuts beginning
as early as July, saying it was ready to battle growing global
and domestic economic risks, in a marked shift in tone since its
last policy meeting. The commentary was widely seen as more dovish than expected,
sending global stocks higher.
Singapore shares .STI , which were among the top boost in
the region, extended gains into a third session. The city-state
was buoyed by blue-chip stocks such as DBS Group Holdings
DBSM.SI and Jardine Strategic Holdings JSH.SI .
Leading the gains in the region, Vietnam shares .VNI
closed 1% firmer. Financials largely powered the index, with
Vietnam Technological And Commercial Joint Stock Bank TCB.HM
adding 2.5%.
Thai stocks .SETI ended 0.7% higher, underpinned by gains
in energy shares, which soared after rising tensions in the
Middle East sent oil prices spiking. PTT PCL PTT.BK climbed
1.6%, while PTT Exploration and Production PCL PTTEP.BK ended
at its highest since April 26.
Meanwhile, the Philippine central bank kept its benchmark
interest rate steady on Thursday, but left the door open to
further policy easing as global risks to growth increases and as
policymakers expect inflation to slow more than previously
expected. Philippine stocks .PSI clawed back from early losses to
end little changed ahead of the central bank's announcement.
Indonesian stocks .JKSE rebounded from early losses to
settle flat after Bank Indonesia decided to keep its policy
interest rate unchanged, but moved to cut the reserve
requirement for banks for the time being. Malaysian stocks .KLSE ended higher, with electricity
utility provider Tenaga Nasional TENA.KL being the top gainer,
while tourist resort operator Genting Malaysia GENM.KL closed
up 1.2%.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3314.51 3288.17 0.80
Bangkok 1717.82 1705.98 0.69
Manila 8022.42 8017.01 0.07
Jakarta 6335.698 6339.262 -0.06
Kuala Lumpur 1675.43 1666.54 0.53
Ho Chi Minh 959.18 949.69 1.00
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3314.51 3068.76 8.01
Bangkok 1717.82 1563.88 9.84
Manila 8022.42 7,466.02 7.45
Jakarta 6335.698 6,194.50 2.28
Kuala Lumpur 1675.43 1690.58 -0.90
Ho Chi Minh 959.18 892.54 7.47