* Philippines ends 1% higher, after falling up to 11%
* Indonesia prepares $8.1 bln stimulus to support economy
* All markets post biggest weekly losses in over a decade
By Sameer Manekar
March 13 (Reuters) - Most Southeast Asian stock markets
recovered on Friday, after sinking in early trade, on hopes that
moves by policymakers at home and abroad would prevent the
global economy from plunging into a recession.
Still, regional markets suffered their worst week in more
than a decade, pulled down by heavy losses earlier in the week
due to crashing oil prices and panic over the coronavirus.
On Friday, Thai .SETI and Philippine stocks .PSI fell as
much as 13.1% and 11.1%, respectively. However, both the indexes
swung into positive territory as Manila ordered state pension
funds to boost daily investments and Bangkok said it will hold
talks to set up an over $941 million fund to support the market.
Hopes for a U.S. stimulus package and the U.S. Federal
Reserve's move to offer $1.5 trillion in short-term loans also
helped markets find a floor.
"With central banks showering the market with liquidity
again today, the thought here is that at some point, the
aggressive policy measure to counteract this expected economic
downturn will eventually cause the market to rally," said
Stephen Innes, chief market strategist at AxiCorp.
However, Malaysian stocks .KLSE shed 5.3% and were the top
losers in the region after data showed the country's factory
output slowed for a second straight month in January.
The index lost 9.3% over the week, the most since mid-2001.
Singapore shares .STI fell 1.7%, having fallen up to 6.3%.
The index logged its worst week since the financial crisis in
2008.
Among gainers, the Philippine bourse .PSI staged a sharp
comeback to end 1% higher.
Given recent losses, there was some bargain-hunting at play,
with the stimulus announcements helping sentiment, said Rachelle
Cruz, analyst at AP Securities.
In tourism-dependent Thailand, stocks rebounded to end 1.3%
higher, after a plunge earlier triggered a circuit breaker. The
benchmark lost nearly 18% this week, the most since 2008.
A drop of over 5% in Indonesian shares .JKSE had also
triggered a circuit breaker. However, the index recovered to
gain 0.2%.
The Indonesian government has prepared a 120 trillion rupiah
($8.1 billion) stimulus package to support Southeast Asia's
biggest economy. Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 2634 2678.64 -1.67
Bangkok 1128.91 1114.91 1.26
Manila 5793.94 5736.27 1.01
Jakarta 4907.571 4895.748 0.24
Kuala Lumpur 1344.75 1419.43 -5.26
Ho Chi Minh 761.78 769.25 -0.97
Change so far in 2020
Market Current End 2019 Pct Move
Singapore 2634 3222.83 -18.27
Bangkok 1128.91 1579.84 -28.54
Manila 5793.94 7,815.26 -25.86
Jakarta 4907.571 6,299.54 -22.10
Kuala Lumpur 1344.75 1588.76 -15.36
Ho Chi Minh 761.78 960.99 -20.73