June 9, 2020 / 10:10 AM / a month ago

SE Asia Stocks-Most erase early gains to halt rally; Malaysia rises

    * Singapore, Thailand snap longest winning streak in around
a year
    * Malaysia to restart nearly all economic activity from
Wednesday
    * Vietnam halts 4-day rally

    By Arundhati Dutta
    June 9 (Reuters) - Most Southeast Asian markets erased early
gains to close lower on Tuesday, putting an end to multi-session
rallies, while Malaysian stocks gained after the country decided
to restart economic activity after a months-long lockdown.
    Singapore and Thailand indices before pausing had posted
their longest winning streak in around a year, adding around 10%
and 8%, respectively, over six days. 
    Leading the fall, Thai shares closed 2.1% lower with
a drop in oil prices pushing the country's prominent energy
sector sharply lower.
    Sector heavyweights PTT Pcl and PTT Exploration and
Production Pcl lost over 4%, each. 
    Singapore shares lost 0.1%, with conglomerate Jardine
Cycle & Carriage Ltd shedding 3.3% to become one of
the top percentage losers. 
    Losses in communication services pushed Indonesia's
benchmark 0.7% lower, with Telekomunikasi Indonesia
 declining 2.8%. 
    Vietnam shares snapped a four-day rally, with
financials leading losses, even as the government said it plans
to allow a resumption of flights to and from countries that have
had no cases of coronavirus for 30 days.
    On the upside, Malaysian shares, which opened after
an extended weekend, hit their highest close since Jan. 22 after
the government said on Sunday it would reopen nearly all
economic activity and allow interstate travel from Wednesday.

    The Philippine benchmark hit its highest close since
early March, with communication services stocks among the top
percentage gainers on the index. 
   
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SOUTHEAST ASIAN STOCK MARKETS
    
  STOCK MARKETS                                        
  Change on the                                        
 day                                          
  Market           Current       Previous     Pct Move
                                 close        
  Singapore        2794.17       2796.97      -0.10
  Bangkok          1408.37       1438.66      -2.11
  Manila           6583.84       6514         1.07
  Jakarta          5035.055      5070.561     -0.70
  Kuala Lumpur     1575.16       1556.33      1.21
 Ho Chi Minh       899.43        899.92       -0.05
                                              
  Change so far                               
 in 2020                                      
  Market           Current       End 2019     Pct Move
  Singapore        2794.17       3222.83      -13.30
  Bangkok          1408.37       1579.84      -10.85
  Manila           6583.84       7,815.26     -15.76
  Jakarta          5035.055      6,299.54     -20.07
  Kuala Lumpur     1575.16       1588.76      -0.86
  Ho Chi Minh      899.43        960.99       -6.41
 

 (Reporting by Arundhati Dutta; Editing by Ramakrishnan M.)
  
Nuestros Estándares:Los principios Thomson Reuters
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