* Malaysia coronavirus curve flattening - WHO
* Philippines sole loser in the region
By Arundhati Dutta
April 2 (Reuters) - Thailand shares closed higher on
Thursday on hopes of fresh stimulus measures to cushion the
coronavirus' impact on its economy, while Malaysian equities
gained as the rate of new infections slowed.
Thai cabinet will consider a new package of economic
measures on Friday, its deputy prime minister said, days after
the country's finance minister said that a new package could be
worth more than 500 billion baht. The benchmark index .SETI rose 3%, helped by gains of
around 12% each in energy sector heavyweights PTT Pcl PTT.BK
and PTT Exploration and Production PTTEP.BK .
Energy stocks were the top gainers, helped by a 10% climb in
crude oil futures. O/R
In Malaysia, shares .KLSE gained on reports that its
coronavirus infection curve was flattening.
Oil and gas sector leaders Petronas Gas Bhd PGAS.KL and
Petronas Dagangan Bhd PETR.KL rose 2.3% and 6.5%,
respectively.
The number of virus cases in Malaysia is expected to peak in
mid-April and there are signs of a flattening of the infection
curve, the World Health Organization said. Indonesian shares .JKSE closed 1.5% higher, with consumer
staples lifting the index. Cigarette maker PT Gudang Garam Tbk
GGRM.JK added almost 10%, while food conglomerate PT Indofood
Sukses Makmur Tbk INDF.JK gained 7%.
"It is still a volatile market as there are still
uncertainties on both macro and corporate fronts," Isnaputra
Iskanda, Head of Research at Maybank Kim Eng Sekuritas, said
while referring to Indonesian markets.
Meanwhile, Philippine equities .PSI closed down 1.2%, with
losses in heavyweight conglomerates SM Investments SM.PS and
Ayala Corp AC.PS weighing on the index.
The Singapore index .STI closed 0.5% higher, while
Vietnamese markets .VNI were closed for a holiday.
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SOUTHEAST ASIAN STOCK MARKETS
STOCK MARKETS
Change on the
day
Market Current Previous Pct Move
close
Singapore 2453.03 2440.27 0.52
Bangkok 1138.27 1105.51 2.96
Manila 5342.31 5408.52 -1.22
Jakarta 4531.685 4466.037 1.47
Kuala Lumpur 1330.9 1322.66 0.62
Change so far
in 2020
Market Current End 2019 Pct Move
Singapore 2453.03 3222.83 -23.89
Bangkok 1138.27 1579.84 -27.95
Manila 5342.31 7,815.26 -31.64
Jakarta 4531.685 6,299.54 -28.06
Kuala Lumpur 1330.9 1588.76 -16.23