UK markets closed
  • NIKKEI 225

    -86.57 (-0.37%)

    -122.20 (-0.49%)

    -1.13 (-3.02%)

    -9.90 (-0.53%)
  • DOW

    +290.27 (+1.09%)

    +353.96 (+3.49%)
  • CMC Crypto 200

    +23.71 (+9.77%)
  • ^IXIC

    +245.81 (+2.23%)
  • ^FTAS

    -3.12 (-0.10%)

SE Asia Stocks-Thailand posts best week since 2015 on oil surge; Singapore down

By Arundhati Dutta
·2-min read

* Thai index has best week in 4-1/2 years * Indonesia up for second day * The Philippines and Malaysia flat By Arundhati Dutta April 3 (Reuters) - Singaporean markets slumped on Friday after the city-state shutdown most businesses to fight the coronavirus, while the energy-heavy Thai index was boosted by rallying oil prices and hopes of stimulus to support its economy. Singaporean stocks closed down 2.6%, weighed down by losses in heavyweight conglomerates Jardine Cycle & Carriage Ltd and Jardine Strategic Holdings Ltd. Singapore will close schools and most workplaces, except for essential services like supermarkets and banks for a month, as its infections have been rising sharply in recent weeks. Elsewhere, Benchmark Brent crude oil futures rose above $30 a barrel on Friday after soaring as much as 47% in the previous session, on expectations of a huge global supply cut deal to support prices. Thailand stocks closed marginally higher and posted its best week since October 2015. Energy heavyweights PTT Pcl and PTT Exploration and Production Pcl gained over 5% each. Also aiding Thai sentiment was Deputy Prime Minister Somkid Jatusripitak's statement that new economic measures to ease virus impact would be worth 10% of GDP. Shares in Vietnam added over 3%, boosted by gains in the real estate sector. The Philippines, the world's top rice buyer, said on Thursday it has secured Vietnam's commitment for continuous supply of the staple food, which may include a 300,000-tonne importation. Vietnamese markets were closed on Thursday for a holiday. Indonesian equities gained 2%, with financials boosting the index. PT Bank Mandiri (Persero) Tbk and PT Bank Negara Indonesia (Persero) Tbk rose 5.8% and 4.2%, respectively. Indonesian palm producers have no plans to reduce workers' hours or other activities despite virus, an industry body said on Friday. Indonesia is the world's largest producer of palm oil. Shares in Malaysia and the Philippines ended flat. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on the day Market Current Previous Pct Move close Singapore 2389.29 2453.03 -2.60 Bangkok 1138.84 1138.27 0.05 Manila 5346.97 5342.31 0.09 Jakarta 4623.429 4531.685 2.02 Kuala Lumpur 1330.65 1330.9 -0.02 Ho Chi Minh 701.8 680.23 3.17 Change so far in 2020 Market Current End 2019 Pct Move Singapore 2389.29 3222.83 -25.86 Bangkok 1138.84 1579.84 -27.91 Manila 5346.97 7,815.26 -31.58 Jakarta 4623.429 6,299.54 -26.61 Kuala Lumpur 1330.65 1588.76 -16.25 Ho Chi Minh 701.8 960.99 -26.97 (Reporting by Arundhati Dutta; Editing by Amy Caren Daniel)