SE Asia Stocks-Thailand, Indonesia, Vietnam track Wall Street gains, Singapore down

Credit: REUTERS/THOMAS WHITE

By Arundhati Dutta

April 3 (Reuters) - Thai, Indonesian and Vietnamese stocks on Friday tracked Wall Street's gains as oil prices posted their biggest one-day surge, while the Singapore market fell on grim economic data from China.

U.S. stocks rallied on Thursday on hopes for a truce in the price war between Saudi Arabia and Russia and a cut in oil output, despite a surge in the number of Americans filing jobless claims due to coronavirus related shutdowns. .N

However, no definitive agreement has been agreed upon by either side.

"Any sense of optimism may be fragile at this point, particularly given increasing strains in the physical oil market (lack of oil storage capacity)," analysts at Maybank wrote in a note.

The Thai index .SETI rose as much as 1.6%, with its prominent energy sector leading the gains. PTT Pcl PTT.BK and PTT Exploration and Production Pcl PTTEP.BK rose 8.9% and 7%, respectively.

Thailand will impose a nationwide night curfew from Friday to try to curb the spread of the coronavirus, the prime minister said on Thursday.

Shares in Vietnam .VNI climbed as much as 2%, with gains underpinned by financial and real estate stocks.

Indonesian equities .JKSE rose up to 1.3%, with materials sector as the top gainer. Petroleum company PT Chandra Asri Petrochemical Tbk TPIA.JK climbed over 14%.

On the downside, services activity in China - the region's biggest trading partner - shrank further in March after a month of public lockdowns and business closures while companies cut jobs at the fastest pace on record, a private survey showed on Friday.

Singapore stocks .STI shed over 1%, with large-caps Jardine Cycle & Carriage Ltd JCYC.SI and Jardine Strategic Holdings Ltd JSH.SI losing more than 2% each.

Markets in Malaysia .KLSE and the Philippines .PSI were also trading lower.

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SOUTHEAST ASIAN STOCK MARKETS AS AT 03333 GMT

STOCK MARKETS

Change on the day

Market

Current

Previous close

Pct Move

Singapore

2,434.59

2,453.03

-0.75

Bangkok

1,145.07

1,138.27

0.60

Manila

5,325.22

5,342.31

-0.32

Jakarta

4,577.555

4,531.685

1.01

Kuala Lumpur

1,328.37

1,330.9

-0.19

Ho Chi Minh

692.08

680.23

1.74

Change so far in 2020

Market

Current

End 2019

Pct Move

Singapore

2,434.59

3,222.83

-24.46

Bangkok

1,145.07

1,579.84

-27.52

Manila

5,325.22

7,815.26

-31.86

Jakarta

4.577.555

6,299.54

-27.34

Kuala Lumpur

1,328.37

1,588.76

-16.39

Ho Chi Minh

692.08

960.99

-27.98

(Reporting by Arundhati Dutta; Editing by Vinay Dwivedi)

((arundhati.dutta@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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