* U.S. cenbank's rate decision awaited
* Philippine stocks rise on last-minute buying
* Thai shares gain; PTTEP posts jump in profit
By Anushka Trivedi
Oct 30 (Reuters) - Southeast Asian stock markets edged up on
Wednesday, with Thailand leading the gains, as hopes of a widely
anticipated rate cut by the U.S. Federal Reserve later in the
day boosted risk sentiment.
The U.S. central bank's likely 25 basis point trim would
mark Fed's third rate-cut this year, while investors would
keenly watch Chairman Jerome Powell's post-meeting conference to
take cues for future policy easing stance. There is a "growing sense, and hints from the Fed, that
there may be scope, perhaps even solid justification, for one
more 'insurance' cut at this juncture," Mizuho said in a note.
Chinese foreign ministry's statement that top Chinese and
U.S. trade negotiators will speak soon in relation to signing an
interim trade deal also aided the positive sentiment.
This comes after Reuters reported on Wednesday that a
stopgap agreement between the United States and China might not
be completed in time for signing in Chile next month as
expected. The Thai benchmark .SETI advanced 0.7% to lead the pack in
the region, underpinned by gains in financial and energy stocks.
Bangkok Bank PCL BBL.BK scaled 6% while oil and gas major PTT
Exploration and Production PCL PTTEP.BK rose 3.4% after
posting a jump in quarterly net profit.
The Vietnamese index .VNI ended 0.5% higher, buoyed by
financial stocks. Lenders Vingroup JSC VIC.HM and Vietcombank
VCB.HM rose over 1.5% each.
The Philippine index .PSI reversed course to end 0.4%
higher, on last-minute buying in index heavyweight stocks.
BDO Unibank Inc BDO.PS and Metropolitan Bank and Trust Co
MBT.PS were among the top gainers as they added 2.4% and 2.2%,
respectively.
Singapore's main index .STI also edged up 0.3%, with
financials dominating gains on the benchmark. Southeast Asia's
biggest lender DBS Group Holdings Ltd DBSM.SI rose 1.3%, while
Oversea-Chinese Banking Corp Ltd OCBC.SI added 1%.
Meanwhile, Indonesian shares .JKSE were little changed
ahead of its October inflation data, which is expected to slow
down from a month earlier, a Reuters poll showed. Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3206.16 3197.04 0.34
Bangkok 1599.73 1591.21 0.67
Manila 8020.06 7991.19 0.36
Jakarta 6295.747 6281.138 0.23
Kuala Lumpur 1580 1577.79 0.14
Ho Chi Minh 1000.89 995.87 0.50
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3206.16 3068.76 4.53
Bangkok 1599.73 1563.88 2.43
Manila 8020.06 7,466.02 7.42
Jakarta 6295.747 6,194.50 1.63
Kuala Lumpur 1580 1690.58 -6.54
Ho Chi Minh 1000.89 892.54 12.14