SE Asia Stocks-Most rise on strong U.S. data, policy stimulus

SE Asia Stocks-Most rise on strong U.S. data, policy stimulus

Reuters  | Mar 05, 2020 12:40

SE Asia Stocks-Most rise on strong U.S. data, policy stimulus

* U.S. announces $8.3 billion emergency spending to combat
* Thai stocks hit 1-week high
* Lower-than-expected Philippine, Thai inflation boosts rate

By Shruti Sonal
March 5 (Reuters) - Most Southeast Asian stock markets edged
up on Thursday, tracking a surge on Wall Street as robust U.S.
economic data, more policy stimulus and Joe Biden's strong
showing in the Democratic primary contests boosted sentiment.
Services sector activity in the United States jumped to a
one-year high in February, data showed, and the House of
Representatives passed a $8.3 billion emergency spending to
combat the coronavirus outbreak. "The prospect of the Fed starting a global easing cycle...
and ramped up U.S. fiscal firepower to fight COVID-19 were
catalysts for equity markets to front-run economic relief",
Vishnu Varathan, a senior economist at Mizuho Bank, said in a
The U.S. Federal Reserve eased interest rates earlier this
week, joining a global effort to shield growth from the virus
epidemic, which has upended supply chains, travel and production
across the globe.
Wall Street surged overnight, after a strong performance by
former Vice President Biden in the Democratic nomination
campaign, as he is considered less likely to raise taxes and
impose new regulations than rival Bernie Sanders. Leading gains in Southeast Asia, Thai stocks .SETI rose as
much as 1.8% to hit their highest level in a week.
Data showed that the country's headline consumer price index
in February rose 0.74% from a year earlier, but stayed below the
central bank's 1%-3% target range, allowing room for rate cuts
at its meeting scheduled later in the month. The trade-sensitive Singapore index .STI gained as much as
0.8%, buoyed by financials and industrials.
Index heavyweights Capitaland Ltd CATL.SI and Mapletree
Commercial Trust MACT.SI jumped nearly 2% and 4%,
The Philippine benchmark .PSI extended gains to a third
session, lifted by consumer stocks.
The country's inflation rate slowed for the first time in
four months in February and was lower than the Reuters forecast,
increasing the prospects of a rate cut at the central bank's
March 19 policy meeting. Universal Robina Corp URC.PS and Robinsons Retail Holdings
Inc RRHI.PS gained as much as 3.1% and 5%, respectively.
The Vietnam index .VNI strengthened on gains in energy
stocks after oil prices rose. Petrovietnam Gas Joint Stock Corp
GAS.HM and Vietnam National Petroleum Group PLX.HM were 1.7%
and 0.8% higher, respectively.

For Asian Companies click;

Change on the day
Market Current Previous close Pct Move
Singapore 3035.53 3025.03 0.35
Bangkok 1396.78 1378.61 1.32
Manila 6893.53 6867.26 0.38
Jakarta 5641.294 5650.136 -0.16
Kuala Lumpur 1492.87 1489.95 0.20
Ho Chi Minh 896.54 889.37 0.81

Change so far in 2020
Market Current End 2019 Pct Move
Singapore 3035.53 3222.83 -5.81
Bangkok 1396.78 1579.84 -11.59
Manila 6893.53 7,815.26 -11.79
Jakarta 5641.294 6,299.54 -10.45
Kuala Lumpur 1492.87 1588.76 -6.04
Ho Chi Minh 896.54 960.99 -6.71

Related News

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
Write a reply...
Please wait a minute before you try to comment again.

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

English (USA) English (UK) English (India) English (Canada) English (Australia) English (South Africa) English (Nigeria) Deutsch Español (España) Español (México) Français Italiano Nederlands Português (Portugal) Polski Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 简体中文 繁體中文 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
Saving Changes


Download the App

Get free real time quotes, charts and alerts on stocks, indices, currencies, commodities and bonds. Get free top of the line technical analysis/predictors. is better on the App!

More content, faster quotes and charts, and a smoother experience is available only on the App.