* U.S. Fed cuts interest rates as expected
* Indonesia slips ahead of central bank meet
* Malaysia on track to fall for a second session
By Anushka Trivedi
Sept 19 (Reuters) - Southeast Asian stock markets traded in
a tight range on Thursday, as investors laid off heavy bets
after the U.S. Federal Reserve delivered an expected rate cut
but provided limited insight on its next move.
Fed Chair Jerome Powell described the U.S. economic outlook
as "favorable," and said the policy easing was meant to insure
against ongoing risks including sluggish global growth and
ongoing trade tensions. The Fed's cautious stance will be of little help to Asian
policymakers who are weighing additional measures. Indonesia's
central bank is set to meet later in the day and the Philippines
the week after, while Fed's cloudy outlook offers less room for
them to ease their respective rates, giving them fewer tools to
tackle their cooling economies.
"Should Fed officials continue conveying mixed policy
outlook to global investors, that could trigger bouts of
volatility as markets contend with the uncertain projections
surrounding U.S. interest rates," Han Tan, market analyst at
brokerage FXTM said in a note.
Indonesian shares .JSKE traded a tad lower ahead of the
central bank policy decision as financials strained the
benchmark.
Bank Indonesia is largely expected to slash rates, according
to a Reuters poll, with government officials stating the policy
would be aimed at supporting Indonesia's GDP expansion in light
of a global economic slowdown. Lenders Bank Rakyat Indonesia (Persero) Tbk PT BBRI.JK and
Bank Mandiri (Persero) Tbk PT BMRI.JK dropped 0.7% and 1.4%,
respectively.
The Thai bourse .SETI touched a two-week low as local
energy players came under pressure from an overnight tumble in
oil prices. Top oil producer PTT PCL .PTT.BK slipped 1.1%
after scaling 3.2% in the previous session. O/R
The Malaysian benchmark index .KLSE was poised to close
lower for a second session, dented by consumer and telecom
sectors.
A dip in palm oil prices hurt producers of the commodity such
as Sime Darby Plantation Bhd SIPL.KL and IOI Corp Bhd
IOIB.KL , while telco Digi.com Bhd DSOM.KL dropped 1.5%.
Singapore shares .STI and the Philippine index .VNI were
largely unchanged.
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SOUTHEAST ASIAN STOCK MARKETS as at 0352 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3163.79 3166.84 -0.10
Bangkok 1647.7 1654.14 -0.39
Manila 7913.91 7915.29 -0.02
Jakarta 6247.918 6276.633 -0.46
Kuala Lumpur 1594.73 1599.49 -0.30
Ho Chi Minh 993.85 995.15 -0.13
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3163.79 3068.76 3.10
Bangkok 1647.7 1563.88 5.36
Manila 7913.91 7,466.02 6.00
Jakarta 6247.918 6,194.50 0.86
Kuala Lumpur 1594.73 1690.58 -5.67
Ho Chi Minh 993.85 892.54 11.35