May 19, 2020 / 4:07 AM / 16 days ago

SE Asia Stocks-Rise on vaccine hopes; Indonesia jumps ahead of c.bank meeting

    * Singapore stocks set for third straight session of gains
    * BI expected to cut benchmark rate by 25 bps - Reuters poll
    * Thai shares hit near 2-1/2 month high

    By Pranav A K
    May 19 (Reuters) - Southeast Asian stock markets rose on
Tuesday, tracking Wall Street's gains overnight, on hopes of
economic recovery after a successful early-stage trial of a
coronavirus vaccine boosted sentiment.
    Indexes across Wall Street posted gains on Monday, following
encouraging data from drugmaker Moderna Inc's
experimental COVID-19 vaccine, which showed promising results in
a small early-stage trial.
    "This (potential vaccine) had no doubt been the biggest mood
booster for markets given the fact that the lingering
coronavirus implications remain the single biggest issue holding
back the market from recovery and a contributor to other risk
factors including U.S.-China tensions," said Jingyi Pan, a
market strategist with financial services firm IG.
    Leading gains in the region, Singapore and Indonesian shares
were both on track for their biggest intraday percentage gain
since April 30.
    Indonesian shares jumped 2%, boosted by financial
stocks, with PT Victoria Investama surging 19.1% and
investment manager PT Lippo Securities jumping 15.2%.
    The country's central bank is set to hold its  policy
meeting and is expected to deliver this year's third rate cut as
it steps up efforts to revive an economy hit by the coronavirus
crisis, a Reuters poll found.
    Singapore stocks climbed for a third straight
session, up 1.9%, with transport services provider SATS Ltd
 adding 5.2% and large-cap Jardine Cycle & Carriage
 gaining 2.9%.
    Philippine stocks traded 1.5% higher and were set to
snap two straight sessions of losses. Lender BDO Unibank
 rose 3.7%, while conglomerate Ayala Corp
advanced 3.3%.
    In Thailand, the benchmark gained 1.8% to its
highest level since March 6 and is on course for its third
straight session of gains.
    Energy stocks propped up the index, helped by rising oil
prices. 
    Thai Oil and Star Petroleum gained 5.1%
and 5.8%, respectively.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS OF 0340 GMT
    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              2587.37   2539.28         1.89
 Bangkok                1309.48   1286.53         1.78
 Manila                 5560.22   5479.35         1.48
 Jakarta                4601.526  4511.058        2.01
 Kuala Lumpur           1419.79   1410.16         0.68
 Ho Chi Minh            850.51    837.01          1.61
                                                  
 Change so far in 2020                            
 Market                 Current   End 2019        Pct Move
 Singapore              2587.37   3222.83         -19.72
 Bangkok                1309.48   1579.84         -17.11
 Manila                 5560.22   7,815.26        -28.85
 Jakarta                4601.526  6,299.54        -26.95
 Kuala Lumpur           1419.79   1588.76         -10.64
 Ho Chi Minh            850.51    960.99          -11.50
 


 (Reporting by A K Pranav 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