Edition:
India

Nikhil Subba

Australia, NZ shares set for third weekly gain on fresh stimulus hopes

15 May 2020

May 15 Australian shares advanced on Friday, with energy and mining sectors leading the gains, as investors cheered the prospects of more fiscal stimulus in the United States and China.

Australia shares slide after U.S. Fed warns of extended economic weakness

14 May 2020

May 14 Australian shares fell on Thursday as sentiment soured after the U.S. Federal Reserve warned of an extended period of economic weakness, while investors awaited domestic unemployment data due later in the day.

Australia, NZ shares tumble on fears of virus resurgence as economies reopen

13 May 2020

May 13 Australian shares extended losses for a second session on Wednesday as investors feared the decision to reopen businesses from the lockdown would lead to a second wave of coronavirus outbreaks and set back economic recovery.

Australia shares drop 1% as risk of second COVID-19 wave weighs

12 May 2020

May 12 Australian shares retreated on Tuesday, with the mining index leading the losses, as a second wave of coronavirus infections in several parts of the world kept investors on edge.

Australia shares gain as country's biggest state to ease lockdown; NZ up

11 May 2020

* New South Wales, the worst affected state, to reopen this week

Australian shares rise on easing virus curbs, U.S.-China trade talks

08 May 2020

* Australia to defer banking inquiry recommendations for 6 months

Australia shares fall as financials, energy stocks weigh; NZ up

07 May 2020

May 7 Australian shares fell on Thursday, pressured by energy and financial stocks, after dismal U.S. data and renewed U.S.-China tensions raised concerns of a slow global economic recovery.

SE Asia Stocks-Philippines gains most as Duterte apology boosts Ayala, Metro Pacific

05 May 2020

* Ayala Corp, Metro Pacific Investments top gainers on Philippine index * Malaysia slashes policy rate by 50 bps to 2.00% * Thailand closes lower By Nikhil Subba May 5 Most Southeast Asian stock markets closed higher on Tuesday, with Philippines gaining the most after President Rodrigo Duterte apologised for his "hurting words" about two tycoons associated with some of the biggest companies in the country. President Duterte apologised to the Ayala family, the owners of Ayala Corp, and to Manuel Pangilinan, the CEO of Metro Pacific Company, offering an olive branch to settle a costly regulatory row. Shares of Ayala Corp and Metro Pacific Investments Corp surged 14.7% and 13.6%, respectively, helping the Philippine benchmark end 1.8% higher after gaining as much as 2.4% earlier in the session, the most since April 17. Meanwhile, most other markets in Southeast Asia rose as investors found hope in the phased reopening of some economies that were earlier hard hit by the coronavirus pandemic. "The oscillating sentiment once again shifted towards the positive end, underpinned by reopening hopes that looks to relieve some of the frayed nerves from concerns over renewed U.S.-China tensions," Jingyi Pan, market strategist at IG said in a note. Malaysian stocks ended about 1% higher, boosted by Petronas Chemicals Group and Axiata Group, which gained 2.8% and 1.9%, respectively. The country's central bank on Tuesday slashed its key interest rate by 50 basis points to the lowest since 2009 and left the door open for further cuts to protect the trade-reliant nation's economy from prolonged, pandemic-driven damage. Bucking the trend, Thai stocks shed 1.8%, pressured by Minor International, down 5.2%, and Hana Microelectronics, which fell 3.5%. "Thai stocks look set to start the week with a downward bias ... to play catch-up with losses in overseas bourses when the Thai stock market was closed on Friday and Monday," analysts at Phillip Securities said in a note. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous Pct Move close Singapore 2572.36 2563.69 0.34 Bangkok 1278.63 1301.66 -1.77 Manila 5671.67 5572.09 1.79 Jakarta 4630.133 4605.487 0.54 Kuala Lumpur 1389.55 1376.59 0.94 Ho Chi Minh 764.16 762.47 0.22 Change so far in 2020 Market Current End 2019 Pct Move Singapore 2572.36 3222.83 -20.18 Bangkok 1278.63 1579.84 -19.07 Manila 5671.67 7,815.26 -27.43 Jakarta 4630.133 6,299.54 -26.50 Kuala Lumpur 1389.55 1588.76 -12.54 Ho Chi Minh 764.16 960.99 -20.48 (Reporting by Nikhil Subba in Bengaluru; Editing by Devika Syamnath)

SE Asia Stocks-Most climb on optimism over easing coronavirus restrictions

05 May 2020

* The Philippines top gainer in region * Malaysia policy decision later in the day * Thailand falls By Nikhil Subba May 5 Most Southeast Asian stock markets on Tuesday clawed back some ground lost in the previous session, as phased easing of coronavirus restrictions by some countries and U.S. states bolstered hopes of an economic recovery. Sentiment was also aided by a firmer finish on Wall Street overnight, as a rally in tech stocks eclipsed worries about simmering U.S.-China tensions over the coronavirus' origin. "Investors seemed to take comfort in the announcements of the gradual re-opening of countries and regions that were hard hit by the COVID-19 pandemic," analysts at Mizuho said in a note. Philippine shares rose as much as 1.3% and led gains in the region, after data showed annual inflation eased to a five-month low in April. Economists said the easing trend in inflation would provide the central bank greater room to cut interest rates and reduce banks' reserve requirement ratio to support growth. Meanwhile, shares of conglomerates Ayala Corp and Metro Pacific Investments Corp climbed 6.8% and 8.8%, respectively, after President Rodrigo Duterte apologised to the firms' owners for his "hurting words". Singapore's Straits Times Index advanced up to 1.2%, lifted by financials and energy-related stocks, which got a boost from higher oil prices. DBS Group Holdings Ltd, Southeast Asia's biggest lender, firmed 0.8%, while conglomerate Keppel Corp gained more than 3%. Malaysian stocks rose over 1%, helped by Petronas Chemicals Group's 3.7% gain, and Axiata Group's more than 2% rise. The country's central bank began its two-day monetary policy meeting on Monday, with a rate decision due later on Tuesday. However, Thai stocks declined about 1.8%, on course to end a four-session winning streak - a period during which they added nearly 3.5%. "Thai stocks look set to start the week with a downward bias ... to play catch-up with losses in overseas bourses when the Thai stock market was closed on Friday and Monday," analysts at Phillip Securities said in a note. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0326 GMT Change on the day Market Current Previous close Pct Move Singapore 2586.74 2563.69 0.90 Bangkok 1284.32 1301.66 -1.33 Manila 5651.91 5572.09 1.43 Jakarta 4646.67 4605.487 0.89 Kuala Lumpur 1390.17 1376.59 0.99 Ho Chi Minh 761.07 762.47 -0.18 Change so far in 2020 Market Current End 2019 Pct Move Singapore 2586.74 3222.83 -19.74 Bangkok 1284.32 1579.84 -18.71 Manila 5651.91 7,815.26 -27.68 Jakarta 4646.67 6,299.54 -26.24 Kuala Lumpur 1390.17 1588.76 -12.50 Ho Chi Minh 761.07 960.99 -20.80 (Reporting by Nikhil Subba in Bengaluru; Editing by Aditya Soni)

SE Asia Stocks-Fall as U.S-China tension spark jitters; Indonesia leads losses

04 May 2020

* Indonesia marks worst day since April 16 * Philippines, Malaysia post weak economic data; shares fall * Thailand closed for national holiday By Nikhil Subba May 4 Southeast Asian stocks slipped on Monday as a flare-up in U.S.-China tensions over the origin of coronavirus spooked investors globally, while Indonesia fell the most after disappointing inflation data. Data from the statistics bureau of Indonesia, the region's largest economy showed that the country's inflation rate cooled more than expected in April, as curbs to contain the spread of the novel coronavirus continued to muffle demand. Statistics bureau chief Suhariyanto said the inflation pattern was unusual, as traditionally the inflation rate rises in the period that coincides with the start of the Ramadan fasting month. Leading losses in the region, Indonesia's benchmark index closed 2.4% down, marking its worst day since April 16. Telecommunications conglomerate Telekomunikasi Indonesia (Pereso) dropped almost 7% at close, while natural gas transportation and distribution company Perusahaan Gas Negara declined over 5%. Meanwhile, risk sentiment in the session took a battering after U.S. Secretary of State Mike Pompeo said on Sunday there was "a significant amount of evidence" that the new coronavirus emerged from a Chinese laboratory. The accusation came after Donald Trump's threat late last week of retaliatory measures against China as punishment for the outbreak, once again sparking tariff fears that rattled markets through much of the last two years. "Rekindling a dormant U.S.-China trade war will likely make any economic improvement exponentially more difficult," Stephen Innes, chief market strategist at AxiCorp, said in a note. Export-reliant Singapore, which is highly exposed to the U.S.-China tariff tussle, saw its benchmark index settle 2.3% lower. Industrial conglomerate Sembcorp Industries' tumbled 5%, while Singapore Telecommunications' fell 3.5%. The stock markets in the Philippines' and Malaysia both closed around 2.2% lower, following coronavirus-weakened economic data on Monday. Philippine property developer SM Investments Corp ended 2.7% down, while Malaysian telecommunications conglomerate Axiata Group finished 3.8% down. The Thai stock market was closed on Monday for a national holiday. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 2563.69 2624.23 -2.31 Manila 5572.09 5700.71 -2.26 Jakarta 4605.487 4716.403 -2.35 Kuala Lumpur 1376.59 1407.78 -2.22 Ho Chi Minh 762.47 769.11 -0.86 Change so far in 2020 Market Current End 2019 Pct Move Singapore 2563.69 3222.83 -20.45 Bangkok 1301.66 1579.84 -17.61 Manila 5572.09 7,815.26 -28.70 Jakarta 4605.487 6,299.54 -26.89 Kuala Lumpur 1376.59 1588.76 -13.35 Ho Chi Minh 762.47 960.99 -20.66 (Reporting by Nikhil Subba; Editing by Rashmi Aich)

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