* Thai c.bank cuts policy rate by 25 bps
* Policy easing steps on cards for Philippines too
* Indonesia reports slower-than-expected Q4 GDP growth
By Shruti Sonal
Feb 5 (Reuters) - Hopes of policy-easing measures led
Philippines and Singapore shares to end over 1% higher on
Wednesday, while Thai stocks gained after the country's central
bank unexpectedly cut its policy rate amid the coronavirus
epidemic.
Singapore stocks .STI climbed nearly 1.4% to close at
their highest since Jan. 27, after the central bank signalled
there was room for monetary easing via a weaker currency within
the current policy framework, to support an economy sapped by
the virus outbreak. Although the Monetary Authority of Singapore (MAS) said its
monetary policy stance was unchanged, ANZ Research analysts said
the "the message is clear. MAS is comfortable, and indeed
seemingly welcomes, a weaker exchange rate in light of the
economic impact from the 2019-nCoV outbreak".
"By making today's comments, they have in effect delivered a
de-facto easing via the market", ANZ added in the note.
Real estate stocks buoyed the index, with Ascendas Real
Investment Trust and UOL Group Ltd UTOS.SI gaining over 3%
each.
The Philippines index .PSI closed 1.7% higher, with index
heavyweight GT Capital Holdings Inc GTCAP.PS jumping about 5%.
Data showed January inflation was at its highest in eight
months, but the outcome was still within the Philippines central
bank's comfort range and supported views that it will likely cut
rates at its meeting on Thursday. "Given the bleak outlook for global growth and dissipating
threats to the inflation outlook, BSP (Bangko Sentral ng
Pilipinas) will likely keep its foot on the easing pedal to help
bolster sagging growth momentum", Nicholas Mapa, senior
economist at ING said.
The Thai benchmark index .SETI inched up about 1% after
the country's central bank cut its benchmark interest rate by 25
basis points in an unexpected move, its third reduction in six
months, taking it to a record low of 1.0%. Muangthai Capital PCL MTC.BK and Robinson PCL ROBINS.BK
were up over 3% each.
Meanwhile, Indonesian shares .JKSE gained nearly 1% after
data showed that economic growth in the fourth quarter slowed to
its weakest pace in three years, leading to hopes of further
rate cuts to shield the economy. Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3200.13 3156.57 1.38
Bangkok 1534.14 1519.38 0.97
Manila 7352.85 7226.9 1.74
Jakarta 5978.51 5922.339 0.95
Kuala Lumpur 1536.79 1535.8 0.06
Ho Chi Minh 925.91 929.09 -0.34
Change so far in 2020
Market Current End 2019 Pct Move
Singapore 3200.13 3222.83 -0.70
Bangkok 1534.14 1579.84 -2.89
Manila 7352.85 7,815.26 -5.92
Jakarta 5978.51 6,299.54 -5.10
Kuala Lumpur 1536.79 1588.76 -3.27
Ho Chi Minh 925.91 960.99 -3.65