* China's move to relax residency curbs lifts broader
* Cautious investors seek clarity on Sino-U.S. trade talks
* Vietnam snaps three session of gains to end lower
By Shreya Mariam Job
April 9 (Reuters) - Most Southeast Asian stocks closed
higher on Tuesday, in line with mainland markets, after Beijing
unleashed fresh measures to boost economic growth, while a surge
in oil prices drove Thai shares to a near six-week closing high.
China will relax residency curbs in many of its smaller
cities this year and increase infrastructure spending, the state
planner said, in a fresh push to boost the urban population and
revive slowing economic growth.
Leading the gains, Indonesian stocks recouped losses
from the previous session to end 0.9 percent higher, ahead of
the presidential elections on April 17.
Most opinion polls give the incumbent, President Joko
Widodo, a double-digit lead over his rival, former military
general Prabowo Subianto.
"President Jokowi looks set for a second term and another
majority in the new parliament, which should be positive for
markets and the IDR (Indonesian rupiah)," a note from Maybank
said. "His re-election signals policy continuity and will calm
fears of any policy disruption," the note said.
Consumer stocks boosted the index, with shares of Astra
International Tbk Pt and Unilever Indonesia Tbk Pt
closing up 2 percent and 1.7 percent, respectively.
Oil prices were near five-month highs on Tuesday as markets
continued to tighten amid OPEC-led supply cuts, U.S. sanctions
against Iran and Venezuela, and escalating violence in Libya.
Bolstered by gains in energy shares, Thai stocks
closed at a near six-week high. PTT Exploration and Production
Pcl and PTT Pcl gained 3.1 percent and 0.5
Separately, investors exercised caution ahead of the release
of the minutes to U.S. Federal Reserve's previous policy meeting
and as they also awaited further clarity on the Sino-U.S. trade
A top White House official said on Monday that U.S.
officials are "not satisfied yet" about all the issues standing
in the way of a deal to end the U.S.-China trade war but made
progress in talks with China last week.
Meanwhile, Vietnam stocks snapped three consecutive
sessions of gains to slump nearly 1 percent. Real estate and
consumer stocks dragged the index lower, with Vingroup JSC
closing 2.2 percent lower and Vietnam Dairy Products
JSC down 1.3 percent.
Philippine markets were closed for a holiday.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3325.6 3315.42 0.31
Bangkok 1657.74 1646.18 0.70
Jakarta 6484.348 6425.734 0.91
Kuala Lumpur 1641.94 1644.35 -0.15
Ho Chi Minh 988.48 997.56 -0.91
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3325.6 3068.76 8.37
Bangkok 1657.74 1563.88 6.00
Jakarta 6484.348 6,194.50 4.68
Kuala Lumpur 1641.94 1690.58 -2.88
Ho Chi Minh 988.48 892.54 10.75
(Reporting by Shreya Mariam Job in Bengaluru; Editing by Sherry