* Expected oil output cut boosts Thai energy stocks
* Vietnam up for seventh session
* Indonesia sole loser, Philippines market on holiday
By Arundhati Dutta
April 9 (Reuters) - Most Southeast Asian stock markets rose
on Thursday, tracking an upbeat session on Wall Street, as hopes
for the coronavirus outbreak nearing its peak rose, while
expectations of a cut in oil output pushed the energy-heavy Thai
index higher.
New York Governor Andrew Cuomo said on Wednesday the state's
efforts at social distancing are working to get the pandemic
under control, while U.S. President Donald Trump said he would
like to reopen the U.S. economy with a "big bang". The Trump administration continued to push for an additional
$250 billion in emergency economic aid for small U.S.
businesses, also aiding sentiment. The Thai index .SETI gained most in the region, adding
nearly 2.1%. Energy stocks rose in tandem with crude futures on
expectations that the world's largest oil producers would agree
to cut production at a meeting later in the day. O/R
Index heavyweights, PTT PCL PTT.BK and PTT Exploration and
Production PCL PTTEP.BK added as much as 3.5% and 3.3%,
respectively.
Singaporean stocks .STI advanced as much as 2.2% in early
trade, with heavyweight financials United Overseas Bank Ltd
UOBH.SI and DBS Group Holdings Ltd DBSM.SI adding up to 2%
and 2.9%, respectively.
Vietnamese equities .VNI were up for a seventh straight
session and hit their highest in four weeks, led by gains among
consumer stocks.
On the downside, Indonesian stocks .JKSE slumped as much
as 1.4% and were set to fall for a third straight day.
Financials were the top drag on the index, with PT Bank
Central Asia Tbk BBCA.JK and PT Bank Negara Indonesia
(Persero) Tbk BBNI.JK losing 2.4% and 3.5%, respectively.
The drop came ahead of a long weekend for most markets on
account of Good Friday, according to analysts.
"I think it's because today is the last trading day before
holiday tomorrow. Investors tend to reduce equity positions
before long weekends," said Hariyanto Wijaya, head of equity
research at Mirae Asset Sekuritas Indonesia.
Philippine markets .PSI were closed for a holiday.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0330 GMT
STOCK MARKETS
Change on the day
Market Current Previous Pct Move
close
Singapore 2,577.33 2,539.44 1.49
Bangkok 1,226.27 1,205.77 1.70
Jakarta 4,580.871 4,626.695 -0.99
Kuala Lumpur 1,367.58 1,361.39 0.45
Ho Chi Minh 756.2 748.02 1.09
Change so far in
2020
Market Current End 2019 Pct Move
Singapore 2,577.33 3,222.83 -20.03
Bangkok 1,226.27 1,579.84 -22.38
Jakarta 4,580.871 6,299.54 -27.28
Kuala Lumpur 1,367.58 1,588.76 -13.92
Ho Chi Minh 756.2 960.99 -21.31