May 6, 2020 / 11:06 AM / a month ago

SE Asia Stocks-Most end lower; Vietnam marks best day in a month

    * Indonesian consumer confidence index plunges in April
    * Singapore Airlines soars to near 2-month high
    * Thai markets closed for a holiday

    By Pranav A K
    May 6 (Reuters) - Most Southeast Asian stocks fell in
low-volume trade on Wednesday as poor economic data capped risk
sentiment, but Vietnam jumped more than 2% to its best
session in more than a month.
    Vietnam's Prime Minister Nguyen Xuan Phuc said on Tuesday
that the country would try to keep economic growth above 5% this
year, above estimates from the International Monetary Fund, as
activity resumes after a coronavirus lockdown.    
    Malaysian shares, which led losses in the region,
were flat through most of the session but dropped shortly before
trading closed to end 0.9% lower. 
    The country reported 45 new confirmed coronavirus cases,
compared with the 30 new cases reported on Tuesday, as it
entered the third day of relaxed curbs on movement and
businesses.
    Shares of Malaysia's biggest palm oil producer Sime Darby
Bhd shed 3%, while Hartalega Holdings lost
2.2%.    
    The Philippine bourse pared some earlier losses to
close 0.6% lower.
    Profit-taking on Ayala Corp, Ayala Land and
Metro Pacific Investments sent the country's benchmark
index sharply lower earlier in the session, said Frances Nicole
L Samorano, a research analyst at RCBC Securities. 
    The stocks surged on Tuesday after President Rodrigo Duterte
apologised to the owners of the companies.
    A sharp contraction in the country's exports and imports in
March also weighed on sentiment.
    Indonesian equities shed 0.5% after the country's 
consumer confidence index plunged to its lowest level in 12
years in April, a day after data showed first-quarter GDP grew
at its weakest pace since 2001.
    "Rising (coronavirus) cases in the country are sapping the
already non-existent confidence that Indonesians had in the
government's handling of the crisis. The data we are seeing is
confirming those fears," said Jeffrey Halley, senior market
analyst at OANDA.
    Singapore's index gained 0.8% in thin trade, with
Singapore Airlines jumping 5.7% to a near 2-month
high.
    "Singapore has moved higher with the rest of Asia's broad
move after U.S. stocks gained overnight. The main driver
continues to be that we have seen the peak of the virus (in the
U.S.)," Halley said.
    Thai stock markets were closed for a public holiday.
    
    
For Asian Companies click;  

 SOUTHEAST ASIAN STOCK MARKETS     
    
  STOCK MARKETS                                                
  Change on the day                                            
  Market                 Current      Previous close  Pct Move
  Singapore              2591.6       2572.36         0.75
  Manila                 5639.27      5671.67         -0.57
  Jakarta                4608.79      4630.133        -0.46
  Kuala Lumpur           1376.93      1389.55         -0.91
  Ho Chi Minh            782.59       764.16          2.41
                                                      
  Change so far in 2020                               
  Market                 Current      End 2019        Pct Move
  Singapore              2591.6       3222.83         -19.59
  Manila                 5639.27      7,815.26        -27.84
  Jakarta                4608.79      6,299.54        -26.84
  Kuala Lumpur           1376.93      1588.76         -13.33
  Ho Chi Minh            782.59       960.99          -18.56
 
    

 (Reporting by A K Pranav in Bengaluru; Editing by Devika
Syamnath)
  
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