SE Asia stocks gain ahead of Fed minutes
- 5 Jul 2017 at 18:56
- WRITER: REUTERS
Stocks in Southeast Asia gain and investors wait for minutes of the US Federal Reserve's last meeting. (Reuters file photo)
Most Southeast Asian stock markets ended higher on Wednesday with Singapore gaining more than 1% while investors awaited minutes of the US Federal Reserve's last meeting, moving past tensions over North Korea.
Investors around the globe are awaiting minutes of the Fed's June meeting to gauge how committed it was to hiking rates again this year and for any details on plans to wind back its massive balance sheet.
"The apprehensions over the geopolitical tension created by the launch of ICBMs from North Korea have started to disappear and investors are focussing on the fundamentals of local equities." said Manny Cruz, an analyst with Manila-based Asiasec Equities Inc.