Thai, Vietnam shares rise on Fed rate cut hopes
Wednesday, June 05, 2019, 14:47 GMT+7
Thailand and Vietnam stock markets rose on Wednesday tracking broader equities higher after the U.S. Federal Reserve hinted at an interest rate cut, while regional holidays prompted languid trade.
U.S. stocks bounced overnight, with Asian shares in tow as the prospect of an interest rate cut pointed to more capital flows into high-yield risk assets such as equities.
Thai index rose about 0.6% to its highest in more than three weeks, with heavyweight energy stocks leading broad-based gains.
Oil and gas explorer PTT Pcl was the biggest boost to the benchmark, with the stock rising 1.1%.
Trading volumes in Thailand were at less than a tenth of their 30-day average.
Vietnam market rose about 0.5% with real estate stocks leading gainers.
Developer Vingroup JSC rose about 0.8% and was the biggest boost to the index.
Trading volumes in Vietnam were also well below their 30-day average.
Markets in Singapore, Indonesia, Malaysia and the Philippines are closed for a public holiday on Wednesday.
