May 21, 2020 / 4:22 AM / 5 days ago

SE Asia Stocks-Most rise tracking Wall St; Malaysia hits over 2-month high

    * Thai shares set for fifth straight session of gains
    * Malaysia's Top Glove Corp hits all-time high
    * Indonesian markets closed for holiday

    By Pranav A K
    May 21 (Reuters) - Southeast Asian stock markets rose on
Thursday, tracking gains in Asia and Wall Street equities, as
investors again bet on hopes of quicker economic recovery from
the coronavirus-led lockdowns ahead of a key policy meeting in
    Hopes of an economic rebound grew in the U.S. as states
across the country began to loosen restrictions, while Australia
and New Zealand also announced a raft of plans to restart public
life, with the latter reopening bars and pubs for the first time
in months.
    "Shrugging off signs of deteriorating U.S.-China relations,
Asia markets followed in Wall Street's footstep edging higher on
the sights and sounds of reopening," said Jingyi Pan, a market
strategist with financial services firm IG.
    China, the region's largest trading partner, is expected to
unveil stimulus measures at its annual parliament session on
Friday to spur an economy battered by the coronavirus as leaders
grapple with problems from surging unemployment to worsening
U.S. ties.
    Malaysian stocks extended gains into a seventh
session and rose 1% to their highest level since March 11, with
healthcare and utilities weighing the most.
    The world's biggest medical gloves maker, Top Glove Corp Bhd
 surged as much as 12.6% to an all-time high, helped by
rising demand for medical supplies due to the pandemic.
    Trade-reliant Singapore equities were higher in
choppy trade after falling in the previous session.
    "I think even with easing of restrictions, the outcome is
still very uncertain... There is also a wait-and-see attitude
ahead of China's two biggest meetings this Thursday and Friday,"
said Joel Ng, a Singapore-based analyst at KGI Securities.    
    Thai shares added 0.6% and were on course for a
fifth straight session in the green, a day after the country's
central bank cut its benchmark interest rate to a record low.

    Utilities accounted for most of the gains on the Thai index.
Gulf Energy Development rose 4.5% after acquiring an
LNG shipper license from the Energy Regulatory Commission, while
B.Grimm Power added 2%.
    Vietnam's benchmark edged half a percent higher,
boosted by consumer staples and financials. The benchmark was
set to extend gains into a fourth session.
    Financial markets in Indonesia were closed for a public
For Asian Companies click;  

 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              2565.42   2561.94         0.14
 Bangkok                1330.62   1322.2          0.64
 Manila                 5589.45   5581.96         0.13
 Kuala Lumpur           1448.84   1435.12         0.96
 Ho Chi Minh            857.51    852.91          0.54
 Change so far in 2020                            
 Market                 Current   End 2019        Pct Move
 Singapore              2565.42   3222.83         -20.40
 Bangkok                1330.62   1579.84         -15.78
 Manila                 5589.45   7,815.26        -28.48
 Kuala Lumpur           1448.84   1588.76         -8.81
 Ho Chi Minh            857.51    960.99          -10.77

 (Reporting by A K Pranav in Bengaluru; Editing by Ramakrishnan
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