* Thai stocks at highest level since March 11
* Singapore shares trade flat
By Nikhil Subba
April 23 (Reuters) - Southeast Asian shares rose on
Thursday, taking cues from Wall Street that rose overnight after
oil prices recovered and the U.S. Congress looked set to approve
a fresh fiscal package.
The House of Representatives is expected to clear a relief
package worth $484 billion later on Thursday, which would take
the overall U.S. federal financial response to the coronavirus
pandemic to almost $3 trillion. Aiding sentiment was a gain in oil prices amid signs that
producers are cutting output to cope with a collapse in demand
for fuel. O/R
"Asia is showing no inclination this week to follow its own
path and looks to be following Wall Street's lead again and
marking stocks higher ...With so many moving and unpredictable
parts in the world, this is a sensible strategy," said Jeffrey
Halley, senior market analyst at OANDA.
In the region, the Philippines index .PSI climbed as much
as 1.8% as consumer and financial stocks rallied.
Metropolitan Bank and Trust Co MBT.PS gained as much as
4.1%, while Jollibee Foods JFC.PS advanced about 4.5% to be on
track for its best day since April 14.
The energy and industrial sectors helped Vietnam's benchmark
.VNI rise as much as 2.2% — its best session since April 13.
Petroleum Equipment and Metal PXS.HM was up more than 6%,
while Hoa Binh Rubber HRC.HM jumped as much as about 7%.
In Indonesia, the benchmark .JKSE firmed as much as 1.2%,
boosted by consumer stocks. Unilever Indonesia UNVR.JK climbed
almost 2.5% to its highest since April 7, while Indofood
ICBP.JK rose as much as 1.5%.
Thai stocks .SETI rose as much as 1.1% to hit their
highest since March 11, as energy stocks helped.
Thai Oil TOP.BK gained as much as 2.5%, its highest in
nearly seven weeks, while PTG Energy PTG.BK rose 4.6% to a six
week peak.
Singapore's Straits Times Index .STI was little changed.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0347 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 2551.37 2550.04 0.05
Bangkok 1269.62 1261.81 0.62
Manila 5616.88 5573.75 0.77
Jakarta 4611.566 4567.562 0.96
Kuala Lumpur 1385.4 1381.89 0.25
Ho Chi Minh 773.1 768.92 0.54
Change so far in
2020
Market Current End 2019 Pct Move
Singapore 2551.37 3222.83 -20.83
Bangkok 1269.62 1579.84 -19.64
Manila 5616.88 7,815.26 -28.13
Jakarta 4611.566 6,299.54 -26.80
Kuala Lumpur 1385.4 1588.76 -12.80
Ho Chi Minh 773.1 960.99 -19.55