* The Philippines leads gains, up 3%
* Indonesia c.bank cuts RRR, holds rates
* China March exports fall 6.6% y/y
By Arundhati Dutta
April 14 (Reuters) - Southeast Asian stock markets rose on
Tuesday on better-than-expected trade data from China and signs
of the coronavirus outbreak peaking in certain hotspots.
Data from China, the region's biggest trading partner,
showed that exports fell 6.6% in March compared with a year
earlier, less than analysts' estimate of a 14% plunge.
In a boost to sentiment, 10 U.S. states, including New York
and California, banded together on Monday in two regional pacts
to gradually reopen their economies as signs emerged that the
virus crisis had peaked. The Philippine index .PSI led the gains, rising 3% and hit
its highest close in a month. Big caps Ayala Corp AC.PS and
Bank of the Philippine Islands BPI.PS rose 8.3% and 5.2%,
respectively.
Shares in Indonesia .JKSE closed up 1.8%, with financial
stocks as top gainers. PT Bank Rakyat Indonesia (Persero) Tbk
BBRI.JK and PT Bank Negara Indonesia (Persero) Tbk BBNI.JK
climbed more than 4%, each.
Indonesia's central bank kept its key interest rate
unchanged on Tuesday, but cut the amount of cash banks are
required to keep in reserve to inject liquidity into the
financial system and help the economy ride out the pandemic.
The central bank's announcement came shortly before the
closure of equity and currency markets in Indonesia, whose
trading hours have recently been reduced, leading to limited
market reaction to the news.
Singaporean stocks .STI ended 2.6% higher and hit their
highest close in a month. Heavyweight financial stocks United
Overseas Bank Ltd UOBH.SI and DBS Group Holdings Ltd DBSM.SI
gained 2.6% and 3%, respectively.
Thai equities .SETI rose 1.6% on the back of financial and
energy stocks.
Thailand approved measures to boost production of medical
equipment on Monday, a senior official said, as the country
combats the pandemic. The Malaysian benchmark .KLSE gained 1.2%, helped by gains
in big-cap financials including Malayan Banking Bhd MBBM.KL
and Hong Leong Bank Bhd HLBB.KL .
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
STOCK MARKETS
Change on the
day
Market Current Previous Pct Move
close
Singapore 2634.57 2567.25 2.62
Bangkok 1256.35 1236.78 1.58
Manila 5780.88 5610.98 3.03
Jakarta 4706.491 4623.894 1.79
Kuala Lumpur 1371.66 1356.03 1.15
Ho Chi Minh 767.41 765.79 0.21
Change so far
in 2020
Market Current End 2019 Pct Move
Singapore 2634.57 3222.83 -18.25
Bangkok 1256.35 1579.84 -20.48
Manila 5780.88 7,815.26 -26.03
Jakarta 4706.491 6,299.54 -25.29
Kuala Lumpur 1371.66 1588.76 -13.66
Ho Chi Minh 767.41 960.99 -20.14