* Fed signals no change in interest rates in near future
* Singapore Q3 unemployment rate rises to decade high
* Philippines falls ahead of cenbank policy decision
By Arundhati Dutta
Dec 12 (Reuters) - Most Southeast Asian markets rose on
Thursday as the Federal Reserve signalled that interest rates
would remain steady for some time amid positive projections for
the economy, even as the weekend deadline for U.S. tariffs on
Chinese goods looms.
Moderate economic growth and historically low unemployment
are expected to persist through the 2020 presidential election
and interest rates would remain accommodative, the U.S. Fed said
in its last meeting of the year. "Overall, market seems to be buying the story told by the
Fed," OCBC Treasury Research said in a note.
Traders are bracing for a series of make-or-break events
over the next few days that have the potential to cause huge
swings in financial markets for months to come.
On the trade war front, U.S. President Donald trump is
expected to meet with top trade advisers on Thursday to discuss
planned Dec. 15 tariffs on some $160 billion worth of Chinese
goods, sources familiar with the matter said.
Trade-sensitive Singapore stocks .STI rose as much as 1%
to hit their highest in over a week, with United Overseas Bank
UOBH.SI and DBS Group Holdings DBSM.SI lifting the index.
Investors appeared to have shrugged off data which showed
that the city-state's unemployment rate for the third quarter
edged to its highest in almost 10 years. The Malaysian index .KLSE posted its best session in more
than three weeks, with blue caps such as power utility Tenaga
Nasional TENA.KL and telecoms player Axiata Group AXIA.KL
posting modest gains.
The bourse advanced ahead of the country's industrial output
data for October, which according to a Reuters poll has grown
1.4% on-year.
The Thai benchmark .SETI , which rebounded from a nearly
one-year closing low hit in the previous session, is set to snap
a 10-day losing streak on the back of industrial and energy
sectors.
Bucking the trend, the Philippine index .PSI dropped ahead
of the central bank's policy decision, which according to a
Reuters poll is expected to hold interest rates due to
accelerating inflation. Conglomerate Ayala Land ALI.PS slipped 1%, while Globe
Telecom GLO.PS lost 1.4%.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0316 GMT
STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3199.29 3172.9 0.83
Bangkok 1559.56 1551.82 0.50
Manila 7758.58 7786.41 -0.36
Jakarta 6181.446 6180.099 0.02
Kuala Lumpur 1569.88 1563.19 0.43
Ho Chi Minh 963.36 961.78 0.16
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3199.29 3068.76 4.25
Bangkok 1559.56 1563.88 -0.28
Manila 7758.58 7,466.02 3.92
Jakarta 6181.446 6,194.50 -0.21
Kuala Lumpur 1569.88 1690.58 -7.14
Ho Chi Minh 963.36 892.54 7.93