* Malaysia gains most; healthcare biggest boost
* Vietnam shares hit over 2-month high
* Indonesian markets closed for holiday
By Pranav A K
May 21 (Reuters) - Most Southeast Asian stock markets rose
on Thursday as hopes of a rebound in economic activity were
boosted by countries easing coronavirus-induced restrictions and
expectations of stimulus measures from China, the region's
biggest trading partner.
China is expected to announce measures to boost the world's
second largest economy at its annual parliament session on
Friday, even as leaders grapple with problems from surging
unemployment to worsening U.S. ties. "This event (National People's Congress) is garnering the
lion's share of attention," said Stephen Innes, chief market
strategist at financial services firm AxiCorp.
"Still, the market remains positioned for a significant
policy monetary and fiscal response from Chinese leaders."
Australia and New Zealand announced a raft of plans to
restart public life, while states across the U.S. loosened
restrictions. Malaysian stocks .KLSE led gains with a 1.2% rise, its
highest level since March 9. The index notched a seven-day
winning streak.
Top Glove Corp Bhd TPGC.KL , the world's biggest medical
gloves maker, rose as much as 12.6% to hit a record high during
the session, while heavyweight Petronas Gas PGAS.KL was the
top boost, surging 12.8%.
Vietnam shares .VNI rose 1.2% and closed at its highest
level since March 9, boosted by financial and real-estate
stocks. Lender Ho Chi Minh City Development Joint Stock
Commercial Bank HDB.HM climbed 6.8%.
Thailand's index .SETI reversed course to close slightly
lower, pressured by Industrial and consumer staple stocks.
Airports of Thailand AOT.BK shed 1.3% and Home Product
Centre PCL HMPRO.BK dropped 2.7%.
Singapore's index .STI closed 0.3% lower after wavering
between gains and losses through the session.
Indonesian stock markets were closed for a holiday.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 2555.34 2561.94 -0.26
Bangkok 1320.69 1322.2 -0.11
Manila 5604.49 5581.96 0.40
Jakarta 4545.952 4548.656 -0.06
Kuala Lumpur 1452.11 1435.12 1.18
Ho Chi Minh 862.73 852.91 1.15
Change so far in 2020
Market Current End 2019 Pct Move
Singapore 2555.34 3222.83 -20.71
Bangkok 1320.69 1579.84 -16.40
Manila 5604.49 7,815.26 -28.29
Jakarta 4545.952 6,299.54 -27.84
Kuala Lumpur 1452.11 1588.76 -8.60
Ho Chi Minh 862.73 960.99 -10.22