January 31, 2020 / 10:46 AM / a month ago

SE Asia Stocks-Post heavy losses as virus toll passes 200, rattles sentiment

    * WHO declares coronavirus a global health emergency 
    * Singapore posts biggest monthly drop since August
    * Malaysia closes at an eight-year low

    By Arpit Nayak
    Jan 31 (Reuters) - The Philippine and Vietnam indexes
slumped over 2% on Friday, while other Southeast Asian stock
markets also extended losses to close lower as fears about the
spread of coronavirus triggered sell-offs across the region.
    The World Health Organisation on Thursday declared the virus
a global health emergency, as the death toll surpassed the
200-mark in China while at least 22 other countries reported
infections.
    Economists fear the hit to China's economy from the virus
could result in a greater economic impact to the world's economy
than that of the 2002/2003 Severe Acute Respiratory (SARS)
epidemic, since China's share of the global economy is now far
greater.
    Fears of the spreading coronavirus in China - the region's
largest trading partner - have knocked global stock markets over
the past week. Transport, tourism, retail and luxury stocks have
been at the frontline. 
    The Philippine index tumbled for a fifth consecutive
session to close at its lowest since Nov 2018, with financial
and consumer sectors being the biggest drags. BDO Unibank
 shed about 4%, while conglomerate SM Investments
 lost 2.4%.
    Malaysian shares extended their losing streak to
nine sessions and closed at an eight-year low.
    Thai stocks also ended weaker, with utilities and
consumer sectors accounting for bulk of the losses, while the
index posted its seventh monthly decline.
    Thailand's economy is expected to grow less than forecast
this year due to coronavirus' impact on tourism, said a country
official, after the trade-reliant economy reported a contraction
in December exports earlier in the day.
    The Singapore index posted its biggest monthly drop
since August, and recorded a weekly decline of 2.7%.
    Lender DBS Group Holdings ended 1.3% lower, while
heavyweight Singapore Telecommunications shed 2.1%.
    Vietnam stocks came under pressure by a drop in
financial and consumer sectors. The bourse lost 5.5% this week. 
    Indonesia shares eased to an eight-month low, with
Bank Central Asia and household goods maker Unilever
Indonesia losing over 3% each.
            
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SOUTHEAST ASIAN STOCK MARKETS    
        
 STOCK MARKETS                                    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3153.73   3170.68         -0.53
 Bangkok                1514.14   1523.99         -0.65
 Manila                 7200.79   7392.68         -2.60
 Jakarta                5940.048  6057.596        -1.94
 Kuala Lumpur           1531.06   1545.59         -0.94
 Ho Chi Minh            936.62    959.58          -2.39
                                                  
 Change so far in 2020                            
 Market                 Current   End 2019        Pct Move
 Singapore              3153.73   3222.83         -2.14
 Bangkok                1514.14   1579.84         -4.16
 Manila                 7200.79   7,815.26        -7.86
 Jakarta                5940.048  6,299.54        -5.71
 Kuala Lumpur           1531.06   1588.76         -3.63
 Ho Chi Minh            936.62    960.99          -2.54
 
 (Reporting by Arpit Nayak in Bengaluru; Editing by Sherry
Jacob-Phillips)
  
Nuestros Estándares:Los principios Thomson Reuters
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