March 10, 2020 / 10:04 AM / a month ago

SE Asia Stocks-Bounce back on stimulus hopes; Singapore biggest gainer

    * Trump vows to take "major" steps to shield economy 
    * Singapore sees best session since June 2016
    * Recovery in oil prices boosts energy stocks 

    By Shruti Sonal
    March 10 (Reuters) - Southeast Asian stocks ended higher on
Tuesday, rebounding from  steep losses in the previous session,
on rising hopes that stimulus measures from global policymakers
would help shield economies from the impact of the coronavirus. 
    U.S. Treasury yields edged higher and oil prices recovered
some losses after U.S. President Donald Trump vowed to take
"major" steps to blunt the economic impact of the coronavirus
outbreak, while speculation of more rate cuts and fiscal
stimulus measures by central banks across the world also rose.

    "A combination of bargain hunting after previous session's
sharp declines and hopes of more stimulus measures have led to
some respite for markets in the region," said Joel Ng, a
Singapore-based analyst at KGI Securities.
    Falling domestic virus cases in China, the region's biggest
trading partner, and President Xi Jinping's visit to the
epicentre of the epidemic further lifted sentiment in Southeast
    Singapore shares, which had fallen the most in 11
years on Monday, closed 1.8% higher in their best session since
June 2016. 
    Bourse-operator Singapore Exchange Ltd rose 6.4%
and boosted the benchmark after reporting record February
derivatives trading volumes a day earlier.
    Selling pressure eased in other markets as well, although
investors remained cautious.
    Any moves made by monetary and fiscal authorities "will not
be a magical panacea to the ills sweeping the globe", said
Jeffrey Halley, a senior market analyst at OANDA. 
    "They can only mitigate the situation, not make it go away",
he added. 
    On the coronavirus front, Italy announced a lockdown of the
entire country until next month to combat the epidemic, while
the World Health Organization warned that the threat of a
pandemic had become very real.
    Indonesian shares, which have slumped over 18% so
far this year, rose 1.6% on strength in financials.
    The country's finance minister said authorities would use
measures including buying back government bonds to stabilise
    Bank Central Asia Tbk PT and Bank Mega Tbk PT
 climbed 2.4% and 3.4%, respectively.
    Energy sector boosted Thai stocks, which inched 1.2%
higher. Oil and gas giant PTT PCL, which had slumped
over 25% a day earlier, gained 5.4% in its best session since
August 2019.

For Asian Companies click;  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              2832.54   2782.37         1.80
 Bangkok                1271.25   1255.94         1.22
 Manila                 6318.38   6312.61         0.09
 Jakarta                5220.826  5136.809        1.64
 Kuala Lumpur           1430.47   1424.16         0.44
 Ho Chi Minh            837.5     835.49          0.24
 Change so far in 2020                            
 Market                 Current   End 2019        Pct Move
 Singapore              2832.54   3222.83         -12.11
 Bangkok                1271.25   1579.84         -19.53
 Manila                 6318.38   7,815.26        -19.15
 Jakarta                5220.826  6,299.54        -17.12
 Kuala Lumpur           1430.47   1588.76         -9.96
 Ho Chi Minh            837.5     960.99          -12.85
 (Reporting by Shruti Sonal; Editing by Anil D'Silva)
Nuestros Estándares:Los principios Thomson Reuters
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