Southeast Asian stock markets rose on Thursday as Asia and regional currencies climbed after the US Federal Reserve reduced the number of expected interest rate hikes this year, lending support to broader risk sentiment.
Indonesia rose 0.5 percent, trimming most early gains and ending the day at the highest close since July 23, 2015. Bank Central Asia, the most actively traded stock, rose 0.9 percent on foreign-led buying.
Investors awaited Indonesia's central bank interest rate decision expected after market close, with a slim majority in a Reuters poll predicting a cut in its benchmark interest rate.
Outperformers in the region were shares in the Philippines notching up about 2 percent gain. The index posted its biggest percentage gain since March 2. Foreign investors bought shares worth a net 968 million peso ($20.9 million), stock exchange data showed.
Singapore advanced 1.3 percent to its highest close since December 31. Malaysia hit the highest close since October 26, with the ringgit rising in line with other Asian currencies as the Fed's cautious outlook deflated the dollar.
Stocks in Vietnam ended at the highest close since December 30, while Thai stocks were up 0.44 percent at 0921 GMT.
Vietnam's benchmark VN Index rose 0.38 percent on Thursday to close at its highest since December 30 on expectations of fewer US rate hikes this year.
Nearly half of the index constituents edged higher, led by PetroVietnam Gas which jumped 4.45 percent to close at 46,900 dong ($2.10) on Thursday, the company's ex-right date for its dividend of 2,000 dong per share.
Energy shares led the gains as oil futures rose further on Thursday after the world's biggest suppliers firmed up plans to discuss an output freeze.
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