* Vietnam rises as much a 3.7%
* Indonesia up for 3rd session, hits 3-wk high
By Arundhati Dutta
April 6 (Reuters) - Southeast Asian stock markets inched
higher on Monday, tracking global equities that gained due to a
slowdown in coronavirus-related deaths and new infections.
Major European nations reported lower fatality rates, with
Italy seeing the number of patients in intensive care falling
for the second consecutive day. However, a rise in cases and
deaths in Singapore, Indonesia and the Philippines kept gains in
Southeast Asia stocks under check. Australia's benchmark index .AXJO rose 0.5%, Japan's
Nikkei gained 0.2% .N225 and South Korea's KOSPI index .KS11
climbed 1.4%, while MSCI's broadest index of Asian shares
outside of Japan .MIAPJ0000PUS edged up 0.1% MKTS/GLOB
Aiding sentiment further, U.S. stock futures ESc1 gained
more than 1.5% in early Asian trading after U.S. President
Donald Trump expressed hope the country was seeing a "levelling
off" of the coronavirus crisis. "There are tentative signs that overall market volatility is
easing, " analysts at Maybank said in a note.
There were signs that markets are becoming "numb" to bad
news, and it would take more impactful events or data to shock
markets, according to the note.
The Vietnam benchmark .VNI rose for a fourth straight
session, up as much as 3.7%, as financial and real estate
stocks jumped. The index was the top gainer in the region.
The country plans to delay the collection of 180 trillion
dong ($7.6 billion) worth of taxes and land rent to help
businesses hit by the pandemic, the Ministry of Finance said on
Friday. Indonesian stocks .JKSE added as much as 2.6% and hit a
three-week high. The financial sector led gains, with PT Bank
Central Asia Tbk BBCA.JK and PT Bank Mandiri (Persero) Tbk
BMRI.JK rising up to 2.7% and 4%, respectively.
Singaporean shares .STI climbed more than 2%. Heavyweight
financials United Overseas Bank Ltd UOBH.SI rose 3% and DBS
Group Holdings Ltd DBSM.SI advanced 2.1%.
In the Philippines, the benchmark .PSI added up to 1.5%,
while Malaysian equities .KLSE were trading flat.
Thai markets .SETI were closed for a holiday.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0412 GMT
STOCK MARKETS
Change on the
day
Market Current Previous Pct Move
close
Singapore 2448.52 2389.29 2.48
Manila 5426.55 5346.97 1.49
Jakarta 4700.677 4623.429 1.67
Kuala Lumpur 1331.66 1330.65 0.08
Ho Chi Minh 719.95 701.8 2.59
Change so far
in 2020
Market Current End 2019 Pct Move
Singapore 2448.52 3222.83 -24.03
Manila 5426.55 7,815.26 -30.56
Jakarta 4700.677 6,299.54 -25.38
Kuala Lumpur 1331.66 1588.76 -16.18
Ho Chi Minh 719.95 960.99 -25.08