* Malaysia and the Philippines extend rally to fourth day
* Thailand hits highest close since March 6
* Vietnam rises for third day
By Arundhati Dutta
June 1 (Reuters) - Southeast Asian markets rose on Monday
after U.S. President Donald Trump left the trade deal with China
intact despite escalating tensions over Hong Kong's autonomy,
with signs of a gradual recovery in the Chinese economy also
helping sentiment.
In a move that relieved markets, which were impacted over
the past year by the ups and downs of U.S.-China relations,
Trump stopped short of an immediate end to Hong Kong's
privileges, but said he would start the process. Adding to cheer was an official survey from China, the
region's biggest trading partner, which showed an increased
momentum in its services and construction sectors in May.
In Thailand and the Philippines, it was the first day after
lockdowns were eased. Singaporean stocks .STI closed up 1.6%, with conglomerates
Jardine Matheson Holdings Ltd JARD.SI and Jardine Strategic
Holdings Ltd JSH.SI adding 2.8% and 3.4%, respectively.
In Malaysia, rubber glove maker Top Glove Corp TPGC.KL , up
nearly 17%, sent the index .KLSE to its highest close in three
months.
An increase in demand for gloves due to COVID-19 was stoking
optimism over the firm's third-quarter earnings, set to be
released on June 18 - according to researchers at CGS-CIMB
Securities.
In Thailand, the parliament on Sunday passed a 1.9 trillion
baht ($58 billion) package to support its virus-hit economy,
driving the local benchmark .SETI to its highest close since
March 6. Gains were underpinned by energy stocks. Philippine equities .PSI , which rose 1.6%, hit their
highest closing level since mid-April, with big cap financials
such as Security Bank Corp SECB.PS and Metro Pacific
Investments Corp MPI.PS being among the top gainers.
Both the Philippine and Malaysian indexes extended their
winning streak to a fourth session, while for Vietnam .VNI , it
was a third straight day of gains.
Indonesian markets .JKSE 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 2550.86 2510.75 1.60
Bangkok 1352.37 1342.85 0.71
Manila 5930.17 5838.84 1.56
Kuala Lumpur 1490.14 1473.25 1.15
Ho Chi Minh 878.67 864.47 1.64
Change so far
in 2020
Market Current End 2019 Pct Move
Singapore 2550.86 3222.83 -20.85
Bangkok 1352.37 1579.84 -14.40
Manila 5930.17 7,815.26 -24.12
Kuala Lumpur 1490.14 1588.76 -6.21
Ho Chi Minh 878.67 960.99 -8.57