May 18, 2020 / 10:31 AM / 3 months ago

SE Asia Stocks-Most end higher as virus-led lockdowns ease; Vietnam leads gains

    * Singapore posts biggest intraday pct gain since May 6
    * Thailand's economy slips into recession
    * Philippine stocks fall to near 3-week low

    By Pranav A K
    May 18 (Reuters) - Most Southeast Asian stock markets rose
on Monday, as risk appetite was boosted after countries such as
Thailand, Italy and Spain eased lockdown restrictions and
reopened their economies.
    Centres of the outbreak from New York to Italy and Spain
gradually lift restrictions that have kept millions cooped up
for months.
    Vietnam's index rose 1.2%, the most among countries
in the region, lifted by financial companies.
    "As lockdowns lift, attention will increasingly turn to the
speed of normalisation in output and employment," said Brian
Martin, Senior International Economist at ANZ.
    "History suggests that V-shaped recoveries are rare. The
deeper the recession, the longer it takes to recover." 
    Singapore stocks closed 0.9% higher and marked their
biggest intraday percentage gain since May 6, after data showed
the country's annual exports rose for the third straight month
in April.
    Non-oil domestic exports in the city-state, a bellwether for
global trade, rose 9.7% in April, supported by a sharp rise in
pharmaceutical shipments.
    "The numbers, while welcome, flatter to deceive. Outsized
gains in the medical sector are boosting exports," said Jeffrey
Halley, senior market analyst at OANDA.
    Capitaland Mall Trust, up 5.2%, was the top
gainer. Its gains were closely followed by Mapletree Commercial
Trust and transport services provider SATS Ltd
, which rose 3.8% and 4.4%, respectively.
    Thai shares rose 0.5%, its biggest percentage gain
in a week, as energy stocks were lifted by higher oil prices.
 
    Bangkok on Sunday opened malls and department stores for the
first time since March as the number of new coronavirus cases
slowed.
    That helped investors looked past data showing Thailand's
economy contracted at its sharpest pace in eight years in the
first quarter, pushing Southeast Asia's second largest economy
into recession sooner than expected. [nL4N2CV2J7 
    Vietnam's Petrolimex Insurance Corp gained 6.8%,
while Ca Mau Trading Joint Stock Company, a marketer of
oil-based products, rose 7%.
    Philippines was the region's sole loser, down 1.1%,
and closed at its lowest level in nearly three weeks.
    Index heavyweight Ayala Corp lost 4.5%, while
Metropolitan Bank and Trust Co fell 4.1%. 
    Indonesia's benchmark index traded sideways ahead of
the central bank's monetary policy decision on Tuesday.
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              2539.28   2523.55         0.62
 Bangkok                1286.76   1280.76         0.45
 Manila                 5479.35   5541.95         -1.13
 Jakarta                4511.058  4507.607        0.08
 Kuala Lumpur           1410.16   1403.44         0.48
 Ho Chi Minh            837.01    827.03          1.21
                                                  
 Change so far in 2020                            
 Market                 Current   End 2019        Pct Move
 Singapore              2539.28   3222.83         -21.21
 Bangkok                1286.76   1579.84         -18.55
 Manila                 5479.35   7,815.26        -29.89
 Jakarta                4511.058  6,299.54        -28.39
 Kuala Lumpur           1410.16   1588.76         -11.24
 Ho Chi Minh            837.01    960.99          -12.90
 
  

 (Reporting by A K Pranav in Bengaluru; Editing by Amy Caren
Daniel)
  
Nuestros Estándares:Los principios Thomson Reuters
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