* Singapore snaps 4 straight sessions of gains
* Indonesian stocks hit near 2-week low
* Energy sector buoys Thai index
By Pranav A K
May 12 (Reuters) - Most Southeast Asian stock markets ended
lower on Tuesday on fears of a second wave of coronavirus
infections as more countries gradually re-open their economies,
with Indonesian shares closing at a near two-week low.
China's Wuhan, where the outbreak began late last year,
reported five new cases on Monday since a lockdown was lifted a
month ago, while South Korea and Germany also saw jumps in
infections after easing restrictions. Indonesian shares .JKSE slid 1.1%, their lowest closing
since April 29, as the country's COVID-19 deaths passed the
1,000 mark on Tuesday. "Active cases (in Indonesia) are yet to peak which will
continue to shroud the pace of economic recovery as well the
rebound in market sentiment," said research analysts at ANZ in a
note.
Trade-sensitive Singapore's equities .STI snapped four
straight sessions of gains to end 0.9% lower, with Southeast
Asia's biggest lender DBS Group Holdings DBSM.SI losing 3.3%
and flagship carrier Singapore Airlines SIAL.SI shedding 2.7%.
Prices in Singapore's benchmark index are trapped in a
rangebound trade of between 2,500 and 2,670 levels, "awaiting
clearer insights into reopening of the economy and the broad
demand picture for trade," Jingyi Pan, market strategist at IG
said in a note.
Prospects of Sino-American relations worsening also soured
sentiment after U.S. President Donald Trump said he opposed
renegotiating the "Phase 1" trade deal with China. Malaysian stocks .KLSE closed 0.2% lower in a volatile
session as the country's March factory output saw its sharpest
decline in nearly a decade. Thai and Vietnamese shares, however, bucked the region's
trend to close higher.
Thai equities .SETI advanced for a third straight session
to settle at their highest level since April 30, with energy
stocks gaining from the rise in oil prices. O/R
Heavyweight PTT PCL PTT.BK firmed 1.4%, while Banpu Power
BPP.BK rose 4.5%.
In Vietnam, the benchmark index .VNI rose 0.8% for a sixth
straight session of gains, supported by financials and consumer
staples.
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SOUTHEAST ASIAN STOCK MARKETS
STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 2587.81 2611.31 -0.90
Bangkok 1299.69 1287.3 0.96
Manila 5651.67 5667.93 -0.29
Jakarta 4588.734 4639.105 -1.09
Kuala Lumpur 1379.93 1382.31 -0.17
Ho Chi Minh 835.32 828.33 0.84
Change so far in 2020
Market Current End 2019 Pct Move
Singapore 2587.81 3222.83 -19.70
Bangkok 1299.69 1579.84 -17.73
Manila 5651.67 7,815.26 -27.68
Jakarta 4588.734 6,299.54 -27.16
Kuala Lumpur 1379.93 1588.76 -13.14
Ho Chi Minh 835.32 960.99 -13.08