* Indonesia ends at three-month high
* Thailand plans more stimulus for consumption, tourism
* Singapore and Thailand gain for sixth straight session
June 8 (Reuters) - Indonesian shares led the charge as
Southeast Asian stock markets extended multi-session rallies on
Monday as a surprise recovery in the U.S. labour market fanned
hopes of a swift economic rebound.
Indonesia's benchmark index .JKSE rose 2.5% to settle at a
near three-month peak, with financials accounting for more than
70% of gains. State lender Bank Mandiri (Persero) BMRI.JK was
one of the top gainers, adding 8.3% on the back of strong
quarterly results. Capital Jakarta hosted Friday prayers in mosques for the
first time in two months after the city relaxed restrictions
aimed at containing the coronavirus outbreak. The U.S. economy unexpectedly added jobs in May, rekindling
a risk rally that began across the region last week as countries
began re-opening for business after weeks under lockdown,
supported by stimulus measures from local
governments. Singapore and Thai indexes clocked gains for a sixth
straight session, while Vietnam .VNI extended gains into a
fourth session.
Financials powered an 1.7% rise in Singapore stocks .STI ,
with lender DBS Group Holdings DBSM.SI adding 3.6% and
Oversea-Chinese Banking Corp OCBC.SI gaining 3.4%.
Loss-making rig-builder Sembcorp Marine SCMN.SI announced
a S$2.1 billion ($1.51 billion) recapitalisation plan and a
demerger from parent Sembcorp Industries SCIL.SI , while
trading is halted in shares of both firms. The Thai index .SETI edged higher as gains in energy
stocks - driven by strong oil prices - outweighed losses in
financials and industrials.
The country's finance minister said it plans to introduce
additional stimulus measures from the third quarter to spur
domestic consumption and tourism. Malaysian markets .KLSE remained closed on account of a
local holiday.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 2,796.97 2,751.5 1.65
Bangkok 1,438.66 1,435.7 0.21
Manila 6,514 6,465.13 0.76
Jakarta 5,070.561 4,947.782 2.48
Ho Chi Minh 899.92 886.22 1.55
Change so far in 2020
Market Current End 2019 Pct Move
Singapore 2,796.97 3,222.83 -13.21
Bangkok 1,438.66 1,579.84 -8.94
Manila 6,514 7,815.26 -16.65
Jakarta 5,070.561 6,299.54 -19.51
Ho Chi Minh 899.92 960.99 -6.35