From Investing.com: 2024-11-19 02:30:41

Emerging Asian stock markets, including Bangkok and Manila, rose on expectations of rate cuts. Thailand stocks hit their highest level since Nov. 8, prompting speculation of a 25-bp rate cut in early 2025. Philippine stocks surged to their highest since Nov. 12, with the central bank governor hinting at further rate cuts. BSP Governor expects a third rate cut either in December or early next year, with more cuts likely in 2025. Singapore stocks hit a 17-year high, driven by financials. The city-state’s Straits Times Index rose 0.9%. Analysts anticipate continued momentum in 2025 with stimulus measures from the central bank. Other markets, such as Taipei, Jakarta, and Mumbai, also saw gains. Currencies in developing nations, including the Malaysian ringgit, Indonesian rupiah, and South Korean won, were mostly positive. In highlights, Beijing and Shanghai announced tax breaks for property markets, Thai PM spoke to U.S. President-elect Trump, and Indonesia is considering another tax amnesty program.



Read more at Investing.com: EM stocks rally; Manila, Bangkok up on rate-cut bets By Reuters