* Singapore, Indonesia up 2%
* Indonesia, Malaysia & the Philippines up for 5th day
* Vietnam sole loser in the region
By Arundhati Dutta
June 2 (Reuters) - Most Southeast Asian markets extended
multi-day rallies on Tuesday, as re-opening of regional
economies overshadowed global concerns ranging from flaring
Sino-U.S. tensions to violent protests in American cities.
After several weeks of coronavirus-induced lockdowns which
have debilitated their economies, Singapore, Thailand and the
Philippines began returning to business under eased
restrictions. Regional markets shrugged off tensions arising from rapidly
escalating protests in the United States, as well as an on-going
battle of wills over Hong Kong which could threaten the
hard-fought trade deal between Beijing and Washington.
However, "the narrative that equities are buoyed by
"re-opening" is vulnerable to sharp capitulation, if
demonstrations turn ugly," Mizuho Bank warned in a note.
Singaporean stocks .STI led gains and hit their highest
close in a month. Blue-chip conglomerates Jardine Matheson
Holdings Ltd JARD.SI and Jardine Strategic Holdings Ltd
JSH.SI rose between 3% and 4.2%.
Indonesian stocks .JKSE , up 2%, hit their highest close
since mid-March, with the financial sector contributing to
nearly half of the index's gains. PT Bank Central Asia Tbk
BBCA.JK added 3.3%.
Philippine equities .PSI closed at their highest level in
nearly three months with gains in big caps such as SM
Investments Corp SM.PS and Security Bank Corp SECB.PS
lifting the index.
Shares in Malaysia .KLSE , up 1.2%, ended at their highest
since the third week of February, while Thai stocks .SETI
closed at a three-month peak.
Indonesia, Malaysia and the Philippines extended their
winning streak for a fifth session, Thailand was up for a third
session, while for Singapore, it was a second day of gains.
Vietnam .VNI , the sole outlier, see-sawed throughout the
session to end lower, snapping three days of gains.
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SOUTHEAST ASIAN STOCK MARKETS
STOCK MARKETS
Change on the
day
Market Current Previous Pct Move
close
Singapore 2611.63 2550.86 2.38
Bangkok 1374.18 1352.37 1.61
Manila 6025.17 5930.17 1.60
Jakarta 4847.507 4753.612 1.98
Kuala Lumpur 1507.69 1490.14 1.18
Ho Chi Minh 874.8 878.67 -0.44
Change so far
in 2020
Market Current End 2019 Pct Move
Singapore 2611.63 3222.83 -18.96
Bangkok 1374.18 1579.84 -13.02
Manila 6025.17 7,815.26 -22.91
Jakarta 4847.507 6,299.54 -23.05
Kuala Lumpur 1507.69 1588.76 -5.10
Ho Chi Minh 874.8 960.99 -8.97