February 13, 2020 / 10:24 AM / 10 days ago

SE Asia Stocks-Most drop as coronavirus cases jump, Indonesia leads fall

    * Indonesia leads declines, down 0.7%
    * Thai economy may grow less than 2% in 2020 
    * Vietnam & Singapore little changed during session

    By Arundhati Dutta
    Feb 13 (Reuters) - Most Southeast Asian stock markets closed
lower on Thursday as a sharp rise in new coronavirus deaths and
infections shattered hopes that the virus outbreak had peaked.
     Chinese province Hubei, which is at the epicentre of the
coronavirus outbreak, reported a record 242 deaths and thousands
more cases on Thursday under a new diagnostic method, suggesting
a much bigger crisis facing China and the world.
    That took total deaths in China from the virus to 1,367, up
254 from the previous day, the National Health Commission said. 
    The surge in the number of infections comes a day after
global markets had rallied after China's senior medical advisor
said the epidemic would be over by April.
    The latest update on the coronavirus situation has "shaken
Asia's confidence," said Jeffrey Halley, market analyst at
OANDA, in a note. 
    "The argument that it was a one-off adjustment versus the
integrity of China's data collection has left Asian stock
markets in somewhat of a limbo," Halley said. 
    Leading declines in markets, Indonesian shares
closed 0.7% lower, weighed by heavyweight telecoms player
Telekomunikasi Indonesia, down 2.6%. 
    The Thai Benchmark closed down 0.5%, pressured by
energy stocks. Petroleum producer PTT Exploration and Production
Pcl fell 2%, the most on the sector.   
    Adding to the downbeat mood, a Thai central bank official
said on Thursday that the country's economy may grow by less
than 2% this year and exports are likely to contract, mainly
from the impact of the virus outbreak.
    Malaysian equities dropped for a second straight
day, as heavyweight financials such as Hong Leong Bank
fell 1.9% and Hong Leong Financial Group slipped 0.6%.
    Shares in Vietnam and Singapore were little
changed throughout the session, while the Philippines
closed 0.3% higher.  
      
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SOUTHEAST ASIAN STOCK MARKETS
    
 STOCK MARKETS                                    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3220.09   3223.37         -0.1
 Bangkok                1532.77   1539.84         -0.46
 Manila                 7403.12   7383.1          0.27
 Jakarta                5871.954  5913.081        -0.7
 Kuala Lumpur           1539.16   1542.94         -0.24
 Ho Chi Minh            938.24    937.68          0.06
                                                  
 Change so far in 2020                            
 Market                 Current   End 2019        Pct Move
 Singapore              3220.09   3222.83         -0.09
 Bangkok                1532.77   1579.84         -2.98
 Manila                 7403.12   7,815.26        -5.27
 Jakarta                5871.954  6,299.54        -6.79
 Kuala Lumpur           1539.16   1588.76         -3.12
 Ho Chi Minh            938.24    960.99          -2.37
 


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