March 2, 2020 / 5:52 AM / a month ago

SE Asia Stocks-Most recover on global stimulus hopes; Philippines leads

    * China Feb factory activity contracts at record pace
    * SATS top gainer on Singapore benchmark index 
    * Malaysian stocks near 8-year low

    By Anushka Trivedi
    March 2 (Reuters) - Most Southeast Asian stock markets
recovered from early losses on Monday, with Philippine shares
leading the pack, as hopes grew major central banks would roll
out stimulus measures to help cushion the economic fallout from
the coronavirus epidemic.
    On Friday, Federal Reserve Chair Jerome Powell said the
central bank would "act as appropriate" to support the economy,
raising hopes of a rate cut and chances that others would follow
    Meanwhile, a private survey showed factory activity in Asia
was largely subdued last month.

    However, "the scale of the falls was modest compared to the
weekend China prints. That appears to be alleviating some
pressure on local equity markets for now," said Jeffrey Halley,
a senior market analyst, OANDA. 
    China's factory activity contracted at the fastest pace ever
in February, but analysts at OCBC expect it to bounce back this
month as production resumes gradually.
    Philippine shares rose 0.9% after hitting their
lowest in nearly three years earlier in the session, with
financial and consumer stocks leading the recovery. 
    Indonesian shares gained 0.5%, while an index of
Jakarta's 45 most liquid stocks was 0.6% higher.  
    Indonesia's central bank said on Monday it would do "triple
intervention" - its term for operations in the domestic
non-deliverable forward, spot foreign exchange and bond markets
- and that protocols to prevent a stock market collapse were in
    Singapore equities inched higher, with SATS Ltd
 leading the gains after the company announced the 
acquisition of UK-based aviation food solutions company Monty's
    Among losers, Malaysian stocks dropped 0.4% to their
lowest since December 2011, with marine port services provider
MISC Bhd and hospitality firm Genting Bhd
among biggest drags. 
For Asian Companies click;  

 STOCK MARKETS                                    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3023      3011.08         0.40
 Bangkok                1323.31   1340.52         -1.28
 Manila                 6848.74   6787.91         0.90
 Jakarta                5481.192  5452.704        0.52
 Kuala Lumpur           1477.28   1482.64         -0.36
 Ho Chi Minh            883.42    882.19          0.14
 Change so far in 2020                            
 Market                 Current   End 2019        Pct Move
 Singapore              3023      3222.83         -6.20
 Bangkok                1323.31   1579.84         -16.24
 Manila                 6848.74   7,815.26        -12.37
 Jakarta                5481.192  6,299.54        -12.99
 Kuala Lumpur           1477.28   1588.76         -7.02
 Ho Chi Minh            883.42    960.99          -8.07
 (Reporting by Anushka Trivedi in Bengaluru; Editing by
Subhranshu Sahu)
Nuestros Estándares:Los principios Thomson Reuters
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