Most Southeast Asian stock markets rose Thursday, tracking an upbeat session on Wall Street, as hopes for the coronavirus outbreak nearing its peak rose, while expectations of a cut in oil output pushed the energy-heavy Thai index higher
Australian shares rose more than 2% on Thursday, tracking gains on Wall Street as hopes that the new coronavirus pandemic is peaking in the United States bolstered sentiment, while a jump in crude oil prices lifted energy stocks.
The S&P/ASX 200 index added 2.2% to 5,320.1 by 0010 GMT after a 0.9% drop on Wednesday. For the week, it was up more than 4%.
In New Zealand, the benchmark S&P/NZX 50 index rose as much as 0.9% at 10,120.89.
New York Governor Andrew Cuomo said on Wednesday the state’s efforts at social distancing are working to get the pandemic under control, while US President Trump said he would like to reopen the US economy with a “big bang“.
The Trump Administration continued to push for an additional $250-B in emergency economic aid for small U.S. businesses, also aiding sentiment.
The Thai index gained most in the region, adding nearly 2.1%. Energy stocks rose in tandem with crude futures on expectations that the world’s largest oil producers would agree to cut production at a meeting later in the day.
Index heavyweights, PTT PCL and PTT Exploration and Production PCL added as much as 3.5% and 3.3%, respectively. Singaporean stocks advanced as much as 2.2% in early trade, with heavyweight financials United Overseas Bank Ltd and DBS Group Holdings Ltd adding up to 2% and 2.9%, respectively.
Vietnamese equities were up for a 7th session running and hit their highest in 4 wks, led by gains among consumer stocks.
On the Southside, Indonesian stocks slumped as much as 1.4% and were set to fall for a third straight day.
Financials were the top drag on the index, with PT Bank Central Asia Tbk and PT Bank Negara Indonesia (Persero) Tbk losing 2.4% and 3.5%, respectively.
The drop came ahead of a long weekend for most markets on account of Good Friday, according to analysts.
Philippine markets were closed for a holiday.
Data as of 9 April 2020. All quotes delayed at least 15 mins.
|.TRXFLDJPP||Thomson Reuters Equity Japan Index||2:04am EDT||124.22||-0.71||-0.57%|
|.TRXFLDHKP||Thomson Reuters Equity HK Index||2:04am EDT||269.72||+2.73||+1.02%|
|.TRXFLDINP||Thomson Reuters Equity India Index||2:04am EDT||1,028.61||+28.34||+2.83%|
|.N225||Nikkei Stock Average 225||2:15am EDT||19,345.77||-7.47||-0.04%|
|.HSI||Hang Seng Index||2:20am EDT||24,153.38||+183.01||+0.76%|
|.AORD||ASX All Ordinaries Index||2:17am EDT||5,439.40||+180.60||+3.43%|
|.KS11||KOSPI Index||2:32am EDT||1,836.21||+29.07||+1.61%|
|.SETI||SET Composite Index||1:29am EDT||1,234.40||+28.63||+2.37%|
|.JKSE||Jakarta Composite||2:35am EDT||4,650.32||+23.62||+0.51%|
|.PSI||PSE Composite Index||8 Apr 2020||5,510.83||-139.18||-2.46%|
|.SSEC||Shanghai Composite Index||2:20am EDT||2,830.04||+14.67||+0.52%|
|.BSESN||S&P BSE Sensex||2:20am EDT||30,937.23||+1,043.27||+3.49%|
|.FTFBMKLCI||FTSE Bursa Malaysia KLCI||2:20am EDT||1,368.41||+7.02||+0.52%|
|.HNX30||HNX 30 Index||7 Apr 2020||193.34||+1.63||+0.85%|
Have a healthy day, stay home, Keep the Faith!