SE Asian stocks end higher

Southeast Asian stock markets tracked global equities to close higher on Thursday, with gains led by Vietnamese stocks, as investor sentiment was boosted by hopes of the coronavirus pandemic peaking and stimulus efforts by governments.

Vietnamese stocks extended a six-session winning streak to hit their highest close in four weeks after the government approved a plan to delay the collection of 180 trillion dong ($7.6 billion) worth of taxes and land rent to help businesses.

Financials led gains, with the Joint Stock Commercial Bank for Foreign Trade of Vietnam adding over 5%.

Indonesian shares shed early losses to close up 0.5% and the rupiah firmed over 2% after the central bank governor said he expected the country's foreign exchange reserves to increase. Consumer discretionary stocks gained the most, with conglomerate PT Astra International Tbk adding over 6%.

The Singapore benchmark ended 1.3% higher, lifted by gains in heavyweight financials such as United Overseas Bank Ltd and DBS Group Holdings Ltd. The Thai index closed 0.4% higher. The Malaysian index gained 0.6% while Philippine markets were closed for a holiday.