* Energy stocks lift Thailand, Vietnam
* Singapore inflation shrinks for second consecutive month
in
March
* Malaysia ends flat
By Nikhil Subba
April 23 (Reuters) - Most Southeast Asian stock markets
finished higher on Thursday, with Thailand leading the gains, as
risk sentiment improved backed by a recovery in oil prices and
expectations of a fresh relief package in the United States.
Oil rebounded from historic lows as it plunged into sub-zero
levels earlier this week, amid signs that producers are cutting
production to weather a collapse in demand as the coronavirus
outbreak ravages world economies.
This, along with expectations of the U.S. Congress approving
a $484 billion coronavirus financial aid later on Thursday, gave
Wall Street a boost overnight, which resultantly spilled over to
the Southeast Asian region.
"The market, hungry for any news to pick up oil from the
oversold depths, was seen aiding with the climb in crude prices
overnight...the lift for Wall Street overnight...is expected to
likewise inspire the region," said Jingyi Pan, market strategist
at financial services firm IG.
The energy sector propped up the Thai index .SETI , gaining
the most in the region. It ended 0.85% higher, boosted by a 1.9%
gain in Thai Oil TOP.BK .
The Vietnamese index .VNI was also boosted by energy
stocks, as it ended 0.7% higher. Petrovietnam Gas Joint Stock
GAS.HM gained 2.5%.
Indonesia, the region's largest economy, saw its benchmark
.JKSE finish 0.6% higher, boosted by consumer stocks.
Unilever Indonesia UNVR.JK firmed 5.6% to close to its
highest since March 13, while Indofood ICBP.JK settled 1.3%
up.
The Philippines' index .PSI ended 0.5% higher, with SM
Investments Corp SM.PS advancing 3.3% and Jollibee Foods
JFC.PS gaining 1.5% at close.
Meanwhile, the Singaporean benchmark .STI finished the
session 0.3% weaker. Singapore Technologies Engineering
STEG.SI shed 2.1%, while Jardine Matheson Holdings JARD.SI
slid 1.8% at close.
Singapore's main price gauge contracted for a second
consecutive month in March, data showed on Thursday, with prices
falling 0.2% from a year earlier. The city-state has extended its one-month circuit breaker
for another month until 1 June, which OCBC analysts say implies
significant economic hardship and a deeper recession in the
second quarter of 2020.
Malaysia's benchmark .KLSE closed little changed.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous Pct Move
close
Singapore 2542.37 2550.04 -0.30
Bangkok 1272.53 1261.81 0.85
Manila 5599.55 5573.75 0.46
Jakarta 4593.554 4567.562 0.57
Kuala Lumpur 1381.64 1381.89 -0.02
Ho Chi Minh 773.91 768.92 0.65
Change so far in
2020
Market Current End 2019 Pct Move
Singapore 2542.37 3222.83 -21.11
Bangkok 1272.53 1579.84 -19.45
Manila 5599.55 7,815.26 -28.35
Jakarta 4593.554 6,299.54 -27.08
Kuala Lumpur 1381.64 1588.76 -13.04
Ho Chi Minh 773.91 960.99 -19.47