SE Asia stocks higher as focus shifts to central bankers’ meet

A currency trader looks at computer monitors near screens showing the foreign exchange rates in Seoul. Asian and Southeast Asian stock markets were mostly higher on Thursday as investors are waiting for the upcoming speeches by the world’s top central bankers in Jackson Hole, Wyoming. (AP photo)

Most Southeast Asian stock markets closed higher on Thursday, in line with Asian peers, as investors looked past US President Donald Trump’s threat to shut down government, focusing instead on a meeting of central bankers in the United States.

US Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi are slated to speak at the annual conference in Jackson Hole, Wyoming, where central bankers from across the globe are expected to tout the benefits of globalisation.

In a speech on Tuesday evening, Trump threatened a shutdown if Congress does not agree to fund constructing a wall along the border with Mexico, a signature promise of his presidential campaign.

In Southeast Asia, Singapore ended up 0.4%, with Jardine Cycle & Carriage about 3% higher and Keppel Corp rising 1%.

The island-nation’s industrial production likely rose at the fastest annual pace in seven months in July, a Reuters poll showed.

Malaysian shares edged up, helped by telecom and consumer staples. Genting Malaysia inched up 0.8%, while Digi.Com gained 0.6%.

Indonesia closed 0.3% lower, dragged down by consumer staples and financials. Bank Central Asia fell 1%, while Bank Tabungan Negara slipped 2.1%.

Southeast Asian stock markets

 

 

Current

Previous

% change

Indonesia                

5,894.11

5,914.02

-0.34

Malaysia       

1,775.50

1,772.94

+0.14

Philippines                 

8,004.93

7,998.75

+0.08

Singapore                 

3,272.16

3,260.05

+0.37

Vietnam        

769.77

765.98

+0.49

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