Most Southeast Asian stock markets ended lower on Tuesday on fears of a second wave of coronavirus infections as more countries gradually re-open their economies, with Indonesian shares closing at a near two-week low.
Indonesian shares slid 1.1%, their lowest closing since April 29, as the country's COVID-19 deaths passed the 1,000 mark on Tuesday.
"Active cases (in Indonesia) are yet to peak which will continue to shroud the pace of economic recovery as well the rebound in market sentiment," said research analysts at ANZ in a note.
Trade-sensitive Singapore's equities snapped four straight sessions of gains to end 0.9% lower, with Southeast Asia's biggest lender DBS Group Holdings losing 3.3% and flagship carrier Singapore Airlines shedding 2.7%.
Prices in Singapore's benchmark index are trapped in a rangebound trade of between 2,500 and 2,670 levels, "awaiting clearer insights into reopening of the economy and the broad demand picture for trade," Jingyi Pan, market strategist at IG said in a note.
Prospects of Sino-American relations worsening also soured sentiment after US President Donald Trump said he opposed renegotiating the "Phase 1" trade deal with China.
Malaysian stocks closed 0.2% lower in a volatile session as the country's March factory output saw its sharpest decline in nearly a decade.
Thai and Vietnamese shares, however, bucked the region's trend to close higher.
Thai equities advanced for a third straight session to settle at their highest level since April 30, with energy stocks gaining from the rise in oil prices.
Heavyweight PTT PCL firmed 1.4%, while Banpu Power rose 4.5%.
In Vietnam, the benchmark index rose 0.8% for a sixth straight session of gains.
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