February 10, 2020 / 4:25 AM / 16 days ago

CORRECTED-(OFFICIAL)-SE Asia Stocks-Fall as coronavirus fears mount as death toll crosses 900

 (Corrects Malaysia's GDP forecast to 4.8% from 4.5% in the
third bullet, rewrites paragraph 11 to reflect the change)
    * Singapore drops 1.4%, raises virus alert to 'orange' 
    * Vietnam leads declines among regional peers
    * Malaysia maintains 2020 growth forecast at 4.8% 

    By Arundhati Dutta
    Feb 10 (Reuters) - Southeast Asian stock markets fell on
Monday as the death toll from the coronavirus outbreak surpassed
the global SARS epidemic of 2003 and weighed on risk appetite in
the region. 
    The virus has claimed the lives of more than 900 people in
Mainland China as of Sunday and raised concerns over growth
outlook in the world's second largest economy.
    "The sober fact is that some economic damage is already done
(by the coronavirus) and it would be highly complacent to assert
that a return to normalcy in sentiment and travel is around the
corner," said Taimur Baig and Chang Wei Liang, analysts at DBS
Economics & Strategy Research, in a note.
    Singapore stocks declined as much as 1.4% in early
trade, but had pared some losses by 0338 GMT. 
    On Friday, the city-state raised its virus alert level to
orange, the level reached during the 2003 Severe Acute
Respiratory Syndrome (SARS) epidemic, which indicates the virus
is severe and passes easily between people.
    Financials weighed on Singapore's main index, with United
Overseas Bank Ltd and DBS Group Holdings
falling as much as 2% and 1.7%, respectively. 
    Also hurting sentiment was data that showed China's consumer
inflation in January hit a more than 8-year high as government
restrictions on movement drove residents to stock up on
essentials.     
   Vietnamese shares fell up to 1.5%, leading declines in
the region. The financial sector weighed on the bourse, with
Joint Stock Commercial Bank for Investment and Development of
Vietnam falling 3.3%. 
    Indonesian equities shed 0.8% and financials were
the biggest drag. PT Bank Central Asia Tbk lost 1.2%,
while PT Bank Mandiri (Persero) Tbk shed 1%. 
    Malaysian shares fell up to 1%, with heavyweights
Tenaga Nasional falling 3.6% and Public Bank Bhd
 dropping 1.1%. 
    The county's prime minister on Monday said that the
Malaysian economy is expected to expand by 4.8% this year,
maintaining the government's forecast as it braces for a
potential global slowdown tied to the novel coronavirus
outbreak.
    Malaysia has reported 17 confirmed coronavirus cases as of
Sunday, and expanded its travel ban on China to include Zhejiang
and Jiangsu provinces.
    The Philippine index fell 0.6%, with property
developer SM Prime Holdings shedding as much as 3.2%.
    Thailand markets were closed for a holiday. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0338 GMT     
    
 Market                 Current   Previous close  Pct Move
 Singapore              3162.84   3181.48         -0.59
 Manila                 7460.9    7507.2          -0.62
 Jakarta                5951.789  5999.607        -0.80
 Kuala Lumpur           1546.41   1554.49         -0.52
 Ho Chi Minh            932.14    940.75          -0.92
                                                  
 Change so far in 2020                            
 Market                 Current   End 2019        Pct Move
 Singapore              3162.84   3222.83         -1.86
 Manila                 7460.9    7,815.26        -4.53
 Jakarta                5951.789  6,299.54        -5.52
 Kuala Lumpur           1546.41   1588.76         -2.67
 Ho Chi Minh            932.14    960.99          -3.00
 
 (Reporting by Arundhati Dutta; Editing by Amy Caren Daniel)
  
Nuestros Estándares:Los principios Thomson Reuters
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