January 24, 2018, 1:46 am
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SE Asia stocks up

Southeast Asian stock markets gained on Thursday, tracking a rally in global equities, with Singapore leading the gains and Thailand hitting a 24-year peak yet again.

Asian stocks rose to a decade-high as Wall Street hit record closes overnight after a report that a market-friendly candidate was being pushed as Janet Yellen’s successor at the helm of the Federal Reserve.

Meanwhile, the dollar weakened after the US central bank’s last policy meeting minutes released on Wednesday showed a guarded view on inflation. 

“The positive performance that Wall Street witnessed helped boost sentiment in our markets,” said Liu Jinshu, director of research at NRA Capital.

Singapore shares climbed as much as 0.8 percent to a more than eight-week high.

Financial stocks accounted for nearly half the gains on the index, with Oversea-Chinese Banking Corp Ltd and United Overseas Bank Ltd gaining more than 1 percent each.

Thai shares rose as much as 0.3 percent and were set for a third straight winning session, led by financials and energy stocks. – Reuters 
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