* Singapore rebounds 1%, hits highest close in over a month
* Indonesia posts technical rebound, snaps four sessions of
losses
* Investors remain cautious ahead of Fed interest rate
decision
By Rashmi Ashok
June 18 (Reuters) - Most Southeast Asian stock markets
closed higher on Tuesday, but gains were capped as investors
kept a cautious stance ahead of the U.S. Federal Reserve meeting
set to begin later in the day.
Despite fresh demands by U.S. President Donald Trump to cut
interest rates, the Fed is expected to keep rates steady this
time while laying the groundwork for a rate cut later this year.
"Mood in Asia will likely remain cautious with investors
awaiting the Fed meeting and possible adjustments to the dot
plots before taking on substantial bets," ING said in a note.
While weak economic data dragged Singapore's index .STI
lower in the previous session, expectations of a potential
monetary easing in October lifted sentiment on Tuesday.
The city-state's main index rebounded to end nearly 1%
firmer, hitting its highest close in more than a month.
"Singapore stocks are probably taking their cue from
regional markets. The Hang Seng is trading higher as news about
the protests over the weekend somewhat died down," said Liu
Jinshu, director of research, NRA Capital.
"The U.S. markets have stayed near recent highs after a
massive run upwards in the first week of June. This has also
boosted confidence," he added.
In a technical rebound, Indonesian stocks .JKSE snapped
four sessions of declines to end stronger. Telekomunikasi
Indonesia Tbk TLKM.JK added 2.1% to the index, while Bank
Negara Indonesia (Persero) Tbk BBNI.JK closed 3.3% higher.
Malaysian stocks .KLSE ended higher, with top percentage
gainer Axiata Group AXIA.KL rising 5.1%, while tourist resort
operator Genting Malaysia GENM.KL closed up 1.5%.
Thai stocks .SETI clawed back from early losses to hit
their highest close since October 2018, buoyed by gains in the
energy sector.
PTT Public Company PTT.BK climbed 2.2%, while PTT
Exploration and Production Public Co PTTEP.BK jumped to its
highest close in nearly a month.
Bucking the trend, Vietnam's stocks .VNI closed 0.3%
lower, dogged by consumer and real estate stocks.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3238.73 3207.99 0.96
Bangkok 1683.6 1667.23 0.98
Manila 7922.04 7908.99 0.17
Jakarta 6257.33 6190.525 1.08
Kuala Lumpur 1652.76 1638.4 0.88
Ho Chi Minh 944.01 946.95 -0.31
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3238.73 3068.76 5.54
Bangkok 1683.6 1563.88 7.66
Manila 7922.04 7,466.02 6.11
Jakarta 6257.33 6,194.50 1.01
Kuala Lumpur 1652.76 1690.58 -2.24
Ho Chi Minh 944.01 892.54 5.77