* 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 .VNI 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 .STI 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 CMLT.SI , up 5.2%, was the top
gainer. Its gains were closely followed by Mapletree Commercial
Trust MACT.SI and transport services provider SATS Ltd
SATS.SI , which rose 3.8% and 4.4%, respectively.
Thai shares .SETI rose 0.5%, its biggest percentage gain
in a week, as energy stocks were lifted by higher oil prices.
O/R
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 PGI.HM gained 6.8%,
while Ca Mau Trading Joint Stock Company CMV.HM , a marketer of
oil-based products, rose 7%.
Philippines .PSI was the region's sole loser, down 1.1%,
and closed at its lowest level in nearly three weeks.
Index heavyweight Ayala Corp AC.PS lost 4.5%, while
Metropolitan Bank and Trust Co MBT.PS fell 4.1%.
Indonesia's benchmark index .JKSE traded sideways ahead of
the central bank's monetary policy decision on Tuesday.
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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