February 7, 2020 / 10:34 AM / 18 days ago

SE Asia Stocks-Most markets tepid as virus fears swell; Singapore dives

    By Soumyajit Saha
    Feb 7 (Reuters) - Most Southeast Asian stock markets traded
in a tight range on Friday as the mounting death toll from a
coronavirus outbreak in China raised fears of economic damage,
while Singapore shares dropped nearly 2% after a downgrade in
growth forecast.
    The viral outbreak, which claimed almost 640 lives,
continued to grip markets. China was confident it could defeat
the epidemic with no long-term economic consequences, Xi told
U.S. President Donald Trump in a telephone call, according to
state television.
    Customs office in China - the region's biggest trading
partner - said on Friday that it will not issue preliminary
trade data for January but would combine it with February
numbers. A Reuters poll had predicted that imports and exports
are likely to fall in January.
    Singapore shares closed 1.7% lower after its biggest bank
DBS downgraded the 2020 growth rate forecast for the city-state
to 0.9% from 1.4% previously, citing an expected economic hit
from the outbreak.
    "The concern is that the impact from the 2019-nCoV (on
Singapore) could be deeper than SARS," the bank said in a note.
    The country was one of the worst hit after China in the
Severe Acute Respiratory Syndrome (SARS) outbreak, which killed
nearly 800 people globally in 2002 and 2003.
    Financials and industrial sectors drove losses in the
Singapore benchmark index, but posted a weekly gain of
nearly 1%.   
    Heavyweights Oversea-Chinese Banking Corp and
Jardine Matheson Holdings ended down 1.9% and 1.2%,
respectively.
    Indonesian shares traded subdued through the
session, but ended the week 1% firmer. 
    Sentiment got a lift following reports that the central bank
was confident of its 2020 GDP growth outlook, despite the
fourth-quarter growth rate coming in at the weakest pace in
three years.    
    An index of Indonesia's 45 most liquid stocks rose
0.2%. 
    Malaysian shares rose marginally to end 1.5% higher
for the week, lifted by strength in banking stocks with Malayan
Banking closing 0.7% firmer.  
    The Philippine index ended the session flat, but
posted a weekly gain of 4.3%.
    
    For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
  STOCK MARKETS                                         
  Change on the                                         
 day                                           
  Market            Current       Previous     Pct Move
                                  close        
  Singapore         3181.48       3231.55      -1.55
  Bangkok           1535.24       1535.79      -0.04
  Manila            7507.2        7506.51       0.01
  Jakarta           5999.607      5987.145      0.21
  Kuala Lumpur      1554.49       1552.77       0.11
 Ho Chi Minh        940.75        938.54        0.24
                                               
  Change so far in                             
 2020                                          
  Market            Current       End 2019     Pct Move
  Singapore         3181.48       3222.83      -1.28
  Bangkok           1535.24       1579.84      -2.82
  Manila            7507.2        7,815.26     -3.94
  Jakarta           5999.607      6,299.54     -4.76
  Kuala Lumpur      1554.49       1588.76      -2.16
  Ho Chi Minh       940.75        960.99       -2.11
 

 (Reporting by Soumyajit Saha in Bengaluru, Editing by Sherry
Jacob-Phillips)
  
Nuestros Estándares:Los principios Thomson Reuters
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