* Vietnam up for fourth straight session
* Indonesia up 4%, hits 3-week high
* Singapore unveils $3.5 bln spending to combat virus
By Arundhati Dutta
April 6 (Reuters) - Southeast Asian stock markets tracked
broader equities to end higher on Monday as investors were
encouraged by a global slowdown in coronavirus cases and deaths
as well as regional government stimuli.
Asian hours, trading close to its upper limit after U.S.
President Donald Trump expressed hope the country was seeing a
"levelling off" of the coronavirus crisis. MKTS/GLOB
Major European nations reported lower fatality rates, with
Italy seeing the number of patients in intensive care falling
for the second consecutive day.
London's FTSE .FTSE was up 3.2% in early trading,
Germany's DAX index .GDAXI was 4% higher while Australia's
benchmark index .AXJO rose 4.33%.
Markets appeared to shrug off reports of increasing COVID-19
cases and deaths from the region.
"Financial markets are searching for any slivers of hope, "
Jeffrey Halley, market analyst at OANDA wrote in a note.
Leading gains, Vietnamese shares .VNI surged 5% to extend
a three-session winning streak, pushed by financial and real
estate stocks.
The country plans to delay the collection of 180 trillion
dong ($7.6 billion) worth of taxes and land rent to help
businesses hit by the virus.
Singaporean equities .STI ended over 3% higher, with
heavyweight financials United Overseas Bank Ltd UOBH.SI and
DBS Group Holdings Ltd DBSM.SI adding 3.6% and 2.7%,
respectively.
The city-state unveiled $3.55 billion in additional economic
spending such as wage support, waiver of levies and one-off
payments to battle the coronavirus pandemic. Indonesian stocks .JKSE advanced more than 4% and hit a
three-week high. Financials were the top gainers, with PT Bank
Central Asia Tbk BBCA.JK climbing 4.4%
The Philippine benchmark .PSI closed up 4.2%, with gains
in big cap conglomerates SM Investments SM.PS and Ayala Land
ALI.PS boosting the index.
Malaysian shares .KLSE ended higher as well, after the
prime minister announced 10 billion ringgit in additional funds
to assist small and medium-sized companies. Thai markets .SETI were closed for a holiday.
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SOUTHEAST ASIAN STOCK MARKETS
STOCK MARKETS
Change on the
day
Market Current Previous Pct Move
close
Singapore 2466.19 2389.29 3.22
Manila 5570.81 5346.97 4.19
Jakarta 4811.827 4623.429 4.07
Kuala Lumpur 1341.69 1330.65 0.83
Ho Chi Minh 736.75 701.8 4.98
Change so far
in 2020
Market Current End 2019 Pct Move
Singapore 2466.19 3222.83 -23.48
Manila 5570.81 7,815.26 -28.72
Jakarta 4811.827 6,299.54 -23.62
Kuala Lumpur 1341.69 1588.76 -15.55
Ho Chi Minh 736.75 960.99 -23.33