April 28, 2020 / 10:19 AM / a month ago

SE Asia Stocks-Most end higher as some global lockdown curbs ease

    * Philippines marks best day since April 17
    * Thailand's highest close since March 6
    * S&P affirms stable outlook for Singapore

    By Nikhil Subba
    April 28 (Reuters) - Most Southeast Asian stock markets
recouped losses from early trade to close higher on Tuesday, as
optimism from the easing of lockdown measures in some
coronavirus hotspots across the world outweighed gloom stemming
from a fresh decline in oil prices. 
    The United States, one of the major global epicenters of the
COVID-19 pandemic, has begun easing stay-at-home restrictions at
several states to revive economies and get people back to work
following crushing job losses.
    In Europe, Italy said it would start easing curbs from May 4
as it prepares a staged end to Europe's longest coronavirus
lockdown.
    "Understandably, news of reopening plans across U.S. states
and various other hard-hit economies, such as Italy, through the
COVID-19 episode has been comforting news," Jingyi Pan, market
strategist at IG said in a note.
    As more countries allow businesses to reopen, following
lockdowns to contain coronavirus outbreaks, markets are hoping
the worst may be over for the world economy.
    Earlier in the day, Southeast Asian markets were trading in
the red after oil prices posted fresh declines, bringing back
worries about low demand and the global economy taking longer to
recover.
    The Philippines led gains in the region, rising 2.3%
at close to mark its best day since April 17. Conglomerate SM
Investments closed 5% higher while BDO Unibank Inc
 finished about 2% up. The lender posted a 10.2% fall in
first-quarter net income earlier in the day.
    Singapore's Straits Times Index settled 0.5% higher,
lifted by Keppel Corp which advanced 3.8% at session
end, and Singapore Telecommunications which rose over
1%.
    S&P Global Ratings affirmed a stable credit outlook for
Singapore, saying the country's external and fiscal positions
are likely to remain intact despite the challenging domestic and
macroeconomic environment.
    Basic material stocks helped the Thai benchmark rise
about 0.6% to close at its highest since March 6. Chemical
company Indorama Ventures settled 2.8% higher, while
PTT Global Chemical advanced 1.4%.
    Indonesia stocks finished the session 0.4% up, with
petrochemical producer Barito Pacific firming 11.1%,
and Chandra Asri Petrochemical rising 2.3% at close. 
    Meanwhile, Vietnam stocks closed 0.5% down, pressured
by the consumer and energy sectors.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
    
  Change on the day                                      
  Market             Current      Previous    Pct Move
                                  close       
  Singapore          2562.95      2549.4      0.53
  Bangkok            1274.99      1267.41     0.60
  Manila             5574.98      5450.45     2.28
  Jakarta            4529.554     4513.141    0.36
  Kuala Lumpur       1372.2       1370.16     0.15
 Ho Chi Minh         767.21       770.77      -0.46
                                              
  Change so far in                            
 2020                                         
  Market             Current      End 2019    Pct Move
  Singapore          2562.95      3222.83     -20.48
  Bangkok            1274.99      1579.84     -19.30
  Manila             5574.98      7,815.26    -28.67
  Jakarta            4529.554     6,299.54    -28.10
  Kuala Lumpur       1372.2       1588.76     -13.63
  Ho Chi Minh        767.21       960.99      -20.16
 
 (Reporting by Nikhil Subba in Bengaluru; Editing by
Ramakrishnan M.)
  
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below