June 8, 2020 / 9:52 AM / a month ago

SE Asia Stocks-Keep rally going as U.S. jobs data lifts recovery hopes

    * Indonesia ends at three-month high
    * Thailand plans more stimulus for consumption, tourism
    * Singapore and Thailand gain for sixth straight session

    June 8 (Reuters) - Indonesian shares led the charge as
Southeast Asian stock markets extended multi-session rallies on
Monday as a surprise recovery in the U.S. labour market fanned
hopes of a swift economic rebound.
    Indonesia's benchmark index rose 2.5% to settle at a
near three-month peak, with financials accounting for more than
70% of gains. State lender Bank Mandiri (Persero) was
one of the top gainers, adding 8.3% on the back of strong
quarterly results.
    Capital Jakarta hosted Friday prayers in mosques for the
first time in two months after the city relaxed restrictions
aimed at containing the coronavirus outbreak.
    The U.S. economy unexpectedly added jobs in May, rekindling
a risk rally that began across the region last week as countries
began re-opening for business after weeks under lockdown,
supported by stimulus measures from local
governments.
    Singapore and Thai indexes clocked gains for a sixth
straight session, while Vietnam extended gains into a
fourth session.
    Financials powered an 1.7% rise in Singapore stocks,
with lender DBS Group Holdings adding 3.6% and
Oversea-Chinese Banking Corp gaining 3.4%.
    Loss-making rig-builder Sembcorp Marine announced
a S$2.1 billion  ($1.51 billion) recapitalisation plan and a
demerger from parent Sembcorp Industries, while
trading is halted in shares of both firms.
    The Thai index edged higher as gains in energy
stocks - driven by strong oil prices - outweighed losses in
financials and industrials.
    The country's finance minister said it plans to introduce
additional stimulus measures from the third quarter to spur
domestic consumption and tourism.
    Malaysian markets remained closed on account of a
local holiday.
    
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SOUTHEAST ASIAN STOCK MARKETS
 Change on the day                                 
 Market                 Current    Previous close  Pct Move
 Singapore              2,796.97   2,751.5         1.65
 Bangkok                1,438.66   1,435.7         0.21
 Manila                 6,514      6,465.13        0.76
 Jakarta                5,070.561  4,947.782       2.48
 Ho Chi Minh            899.92     886.22          1.55
                                                   
 Change so far in 2020                             
 Market                 Current    End 2019        Pct Move
 Singapore              2,796.97   3,222.83        -13.21
 Bangkok                1,438.66   1,579.84        -8.94
 Manila                 6,514      7,815.26        -16.65
 Jakarta                5,070.561  6,299.54        -19.51
 Ho Chi Minh            899.92     960.99          -6.35
 

 (Reporting by Arpit Nayak and Arundhati Dutta in Bengaluru;
Editing by Shailesh Kuber)
  
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