Southeast Asian stock markets ended little changed in dull trade on Tuesday as investors were cautious ahead of a widely expected interest rate hike by the U.S. Federal Reserve next week amid concerns about President Donald Trump’s economic policies.
Fed Chair Janet Yellen has signalled that the central bank might raise interest rates at its next meeting on March 14-15, and may move faster after that than it has in years.
After Janet Yellen’s speech last week, the market will be ready for a rate hike when the U.S. Federal Reserve meets next week unless this Friday’s jobs report is a disaster.
Consumer prices rose 3.3 percent but was within the range the central bank had expected, the statistics agency said.
Singapore shares rose after two sessions of falls, buoyed by financials and industrials. Real estate company CapitaLand Ltd gained 2.3 percent, while automotive conglomerate Jardine Matheson Holdings Ltd climbed 0.6 percent.