February 11, 2020 / 4:46 AM / 18 days ago

SE Asia Stocks-Most markets climb as new virus cases fall, Singapore leads gains

    * Singapore leads regional gainers
    * Philippine Dec trade deficit narrows to 6-month low 
    * Vietnam rises on financials 

    By Arundhati Dutta
    Feb 11 (Reuters) - Most Southeast Asian stock markets rose
on Tuesday, led by Singapore, as new cases of coronavirus in
China fell and investors waited to see how quickly the country's
factories could return to work.
    There were 2,478 new cases on the mainland on Monday, down
from 3,062 on the previous day. The death toll, however, soared
to 1,016.
    "The decline of confirmed and suspected cases in Hubei
province showed China's lockdown may start to bear fruits," OCBC
Treasury Research said in a note. 
    The virus outbreak is expected to have a devastating impact
on China's growth in the first quarter, pushing policymakers to
adopt measures such as capital injection and tariff exemptions
for materials used for epidemic control to support its economy.
 
    The Singaporean index gained as much as 1%, snapping
two sessions of losses. Financial heavyweights DBS Group
Holdings and United Overseas Bank added up
to 1% and 1.7%, respectively. 
    The Indonesian benchmark rose, helped by consumer
stocks. Conglomerate PT Astra International Tbk added
up to 1.6%. 
    The Malaysian index climbed as much as 0.8%. Genting
Malaysia Bhd and Sime Darby Bhd gained more
than 1% each. 
    Bucking the trend, Philippine shares edged lower.
Large caps SM Investments and Ayala Corp shed
between 1% and 1.8%. 
    Investors appeared to shrug off government data that showed
trade deficit narrowing to a six-month low in December due to a
surge in exports.
    Shares in Vietnam gained on financials, with the
Joint Stock Commercial Bank for Investment and Development of
Vietnam adding as much as 4.7%. 
    Thai shares were little changed. 
   
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0436 GMT
    
 STOCK MARKETS                                    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3186.77   3163.15         0.75
 Bangkok                1534.6    1535.24         -0.04
 Manila                 7423.68   7430.86         -0.10
 Jakarta                5960.508  5952.083        0.14
 Kuala Lumpur           1550.05   1542.8          0.47
 Ho Chi Minh            934.11    930.73          0.36
                                                  
 Change so far in 2020                            
 Market                 Current   End 2019        Pct Move
 Singapore              3186.77   3222.83         -1.12
 Bangkok                1534.6    1579.84         -2.86
 Manila                 7423.68   7,815.26        -5.01
 Jakarta                5960.508  6,299.54        -5.38
 Kuala Lumpur           1550.05   1588.76         -2.44
 Ho Chi Minh            934.11    960.99          -2.80
 
 (Reporting by Arundhati Dutta; editing by Uttaresh.V)
  
Nuestros Estándares:Los principios Thomson Reuters
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