February 11, 2020 / 10:11 AM / 15 days ago

SE Asia Stocks-Most rise as new virus cases slow; Thailand falls

    * Indonesia Dec retail sales fall 0.5% y/y
    * Malaysia trade deficit narrows to 6-month low in Dec
    * Singapore visitor numbers to drop by 25-30% in 2020

    By Arundhati Dutta
    Feb 11 (Reuters) - Most Southeast Asian stock markets rose
on Tuesday as the number of new coronavirus cases slowed in
China, but a rising death toll prompted concerns over how soon
Chinese factories could return to work and kept gains in check.
    The death toll from the coronavirus outbreak in China soared
past 1000 on Tuesday and the number of confirmed cases on the
mainland was 2,478 on Monday, down from 3,062 the previous day,
bringing the total to 42,638.
    "While some factories are targeted to resume production this
week, it could be challenging as the increasing municipal
lockdowns hinder migrant workers from returning to work," said
Nathan Chow, economist at DBS Group Research, in a note. 
    Factory closures will be disruptive for China's trade, which
had "begun showing signs of recovery in December", Chow said. 
    Singapore stocks closed 0.4% higher, after rising as
much as 1% earlier in the session. Heavyweight financial stocks
DBS Group Holdings gained 1% and United Overseas Bank
 rose 1.7%. 
    The city-state expects visitor numbers to drop by 25-30%
this year due to the virus outbreak, with a significant decline
in Chinese travel, its tourism board said on Tuesday.

    Indonesian shares gave up early gains to end flat.
    The country's retail sales contracted 0.5% in December from
a year earlier, despite year-end festivities, according to a
central bank survey released on Tuesday.
    The Philippine index closed slightly higher, lifted
by gains in big caps Globe Telecom and GT Capital
Holdings.  
    Government data showed that Philippines' trade deficit had
narrowed to its lowest in six months in December due to a surge
in exports. 
    Malaysian stocks added 0.6%, aided by shares of blue chip
companies Tenaga Nasional and Petronas Chemicals Group
. 
    Bucking the trend, the Thai index fell 0.7%, which
marked its worst day in a week.
    The world's second largest sugar exporter could see its
2019-20 sugar production fall to between 8 million - 9 million
tonnes due to drought, industry executives said on Tuesday.
 
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SOUTHEAST ASIAN STOCK MARKETS
    
 STOCK MARKETS                                    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3175.57   3163.15         0.39
 Bangkok                1523.93   1535.24         -0.74
 Manila                 7439.4    7430.86         0.11
 Jakarta                5954.397  5952.083        0.04
 Kuala Lumpur           1551.48   1542.8          0.56
 Ho Chi Minh            934.67    930.73          0.42
                                                  
 Change so far in 2020                            
 Market                 Current   End 2019        Pct Move
 Singapore              3175.57   3222.83         -1.47
 Bangkok                1523.93   1579.84         -3.54
 Manila                 7439.4    7,815.26        -4.81
 Jakarta                5954.397  6,299.54        -5.48
 Kuala Lumpur           1551.48   1588.76         -2.35
 Ho Chi Minh            934.67    960.99          -2.74
 



 (Reporting by Arundhati Dutta; Editing by Amy Caren Daniel)
  
Nuestros Estándares:Los principios Thomson Reuters
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