* All countries in the region mark best month this year
* Thailand logs biggest monthly gain since Dec. 2003
* Lender DBS Group boosts Singapore
By Nikhil Subba
April 30 (Reuters) - Indonesia's benchmark closed over 3%
higher on Thursday, posting its first monthly gain this year,
after the country signalled a positive end to the financial year
with economic growth set to recover.
Bank Indonesia (BI) said on Thursday it expects a stronger
recovery for GDP growth in the final quarter of the year and
maintained its full-year 2020 forecast at 2.3%. The Indonesia benchmark .JSKE rose 3.3% to close at a over
two-week high, while marking its best day since April 17. The
index ended the month nearly 4% higher, after three straight
months of losses.
Bank Central Asia BBCA.JK climbed 6.6%, while Bank
Tabungan Pensiunan Nasional Syariah BTPS.JK jumped 20.4% at
close.
Meanwhile, markets were lifted by positive early results
from a U.S government clinical trial showing that Gilead
Sciences Inc's GILD.O experimental drug remdesivir helped
certain COVID-19 patients recover more quickly from the illness.
"The vaccine is incredibly positive news for the oil market
as it suggests a quicker recovery in global demand as oil
downstream sectors would be expected to fire up," Stephen Innes,
chief market strategist at AxiCorp, said in a note.
Oil prices rose on Thursday on signs that gasoline demand is
starting to pick up as COVID-19 restrictions begin easing in
parts of the world. O/R ]
Singapore's Straits Times Index .STI climbed about 2% to
settle at a peak of over two weeks, boosted by financials. The
benchmark rose 5.8% in April, its biggest monthly gain since
end-June 2019.
DBS Group DBSM.SI closed at seven-week peak, while logging
its best session since March 25, after the lender retained its
quarterly dividend and flagged a stable annual outlook.
Malaysia stocks .KLSE ended the session nearly 2% up,
while closing the month more than 4% higher - its best monthly
performance since July 2018.
Petronas Chemicals Group PCGB.KL finished nearly 9% up,
while Press Metal Aluminium Holdings PMET.KL ended 4.2%
higher.
Thai stocks .SETI firmed 1.5% to close at its highest
since March 6. In April, the index advanced about 15.3%, its
biggest monthly gain since December 2003.
Mobile phones supplier TWZ Corp TWZ.BK jumped 20% at
close, while Thai Oil TOP.BK closed 3.2% higher.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 2624.23 2574.73 1.92
Bangkok 1301.66 1282.68 1.48
Manila 5700.71 5643.97 1.01
Jakarta 4716.403 4567.323 3.26
Kuala Lumpur 1407.78 1380.3 1.99
Ho Chi Minh 769.11 767.21 0.25
Change so far in
2020
Market Current End 2019 Pct Move
Singapore 2624.23 3222.83 -18.57
Bangkok 1301.66 1579.84 -17.61
Manila 5700.71 7,815.26 -27.06
Jakarta 4716.403 6,299.54 -25.13
Kuala Lumpur 1407.78 1588.76 -11.39
Ho Chi Minh 769.11 960.99 -19.97