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Singapore, Philippine stocks outperform SE Asia peers

  • WRITER: REUTERS

Most Southeast Asian stock markets, led by Singapore and Philippine stocks, rose on Monday, as tame inflation and soft domestic demand in the United States hurt prospects of a third interest rate hike by the Federal Reserve.

Fed policymakers are confronted with benign inflation and a tight labour market as they weigh a third rate hike and announcing plans to start reducing the central bank's $4.2 trillion portfolio of Treasury bonds and mortgage-backed securities.

A tamer Fed bodes well for inflows into Asia as investors usually look to its markets for better yields.

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