* Philippines top gainer
* Singapore, Malaysia touch over 1-month high
* Indonesia rises on financials
By Arundhati Dutta
April 17 (Reuters) - Philippine shares jumped more than 4%
on Friday after its central bank cut key rates to shore up its
economy, while the Singapore index gained as its annual exports
growth beat expectations.
Also aiding sentiment in broader markets, Wall Street
futures rose after U.S. President Donald Trump unveiled a plan
to re-open its economy with a staggered, three-stage approach.
.N
"This will be a test of steady hands and level heads in
calibrating the opening of the economy triumph over the risk of
crippling second wave of infections, " Mizuho Bank said in a
note.
Markets appeared to shrug off data that showed China's
economy shrank for the first time since at least 1992 in the
first quarter, although it expects second-quarter performance to
be much better than in the first. Leading gains, the Philippine index .PSI rebounded from
the previous session's steep fall and added as much as 4.4%
after its central bank cut its key interest rate by 50 bps to
support its economy damaged by the outbreak. Heavyweight conglomerates SM Investments SM.PS and Ayala
Land ALI.PS gained around 5%, each.
In Singapore, the benchmark index .STI gained as much as
2.3%, and hit its highest level in over a month. Its annual
exports growth accelerated by 17.6% in March, beating
expectations. Thai shares .SETI climbed up to 2.8%, underpinned by gains
in financial and energy sectors.
Indonesian equities .JKSE rose as much as 3%, with
financials leading gains. PT Bank Central Asia Tbk BBCA.JK and
PT Bank Mandiri (Persero) Tbk BMRI.JK rose 3.8% and 5%,
respectively.
Shares in Malaysia climbed 1.9% higher and touched their
highest level in over a month.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0331 GMT
STOCK MARKETS
Change on the
day
Market Current Previous Pct Move
close
Singapore 2654.52 2612.25 1.62
Bangkok 1224.65 1200.15 2.04
Manila 5724.13 5525.6 3.59
Jakarta 4602.671 4480.607 2.72
Kuala Lumpur 1412.14 1386.53 1.85
Ho Chi Minh 784.93 780.7 0.54
Change so far
in 2020
Market Current End 2019 Pct Move
Singapore 2654.52 3222.83 -17.63
Bangkok 1224.65 1579.84 -22.48
Manila 5724.13 7,815.26 -26.76
Jakarta 4602.671 6,299.54 -26.94
Kuala Lumpur 1412.14 1588.76 -11.12
Ho Chi Minh 784.93 960.99 -18.32