February 10, 2020 / 10:22 AM / 9 days ago

SE Asia Stocks-Fall as rising virus death toll curbs risk appetite

    * Vietnam falls 1.1%, top loser in the region
    * Singapore raises virus alert level to 'orange'
    * Malaysia Q4 GDP growth seen slowing to 3-1/2-year low -
poll

    By Arundhati Dutta
    Feb 10 (Reuters) - Southeast Asian stock markets fell on
Monday as a rising death toll in China raised alarm bells about
the severity of a virus outbreak, though authorities there
lifted some work and travel curbs.
    Workers began trickling back to offices and factories around
China though a large number of workplaces remain closed and many
white-collar workers will continue to work from home.

    The death toll in mainland China from the novel coronavirus
rose to 908 by the end of Sunday, surpassing the fatalities from
the Severe Acute Respiratory Syndrome outbreak in 2003.

    Meanwhile, data showed China's factory-gate prices snapped
six months of year-on-year declines in January, but analysts do
not expect the positive momentum to sustain amid economic risks
from the coronavirus.
    Leading decliners in Southeast Asia, Vietnamese shares
 fell 1.1% with financials losing the most. Joint Stock
Commercial Bank for Investment and Development of Vietnam
 shed 5%.
    "It is hard to see markets gaining further against the
outbreak of coronavirus," Jeffrey Halley, market analyst at
OANDA, wrote in a note. 
    "That is likely to be the theme of the week, as the economic
damage is totalled up from the outbreak."
    Singapore stocks closed lower for the second straight
session, with financial heavyweights United Overseas Bank
 and DBS Group Holdings losing between 1% and
 1.4%.
    The city-state on Friday reported more coronavirus cases
unrelated to previous infection or China travel, and raised its
alert level to "orange".
    Malaysian shares ended 0.8% lower, dragged by blue
chips such as power utility Tenaga Nasional and Hong
Leong Financial Group.
    Investors now await fourth-quarter economic growth data due
on Wednesday for clues about the domestic economy. 
    A Reuters poll shows growth likely slowed to its weakest
since mid-2016 in the final quarter of the year on weaker
private consumption and external demand.
    Philippine shares gave up 1%, while Indonesian
equities shed 0.8%.
    Thailand stock markets were closed for a holiday. 
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
 Market                 Current   Previous close  Pct Move
 Singapore              3163.15   3181.48         -0.58
 Manila                 7430.86   7507.2          -1.02
 Jakarta                5952.083  5999.607        -0.79
 Kuala Lumpur           1542.8    1554.49         -0.75
 Ho Chi Minh            930.73    940.75          -1.07
                                                  
 Change so far in 2020                            
 Market                 Current   End 2019        Pct Move
 Singapore              3163.15   3222.83         -1.85
 Manila                 7430.86   7,815.26        -4.92
 Jakarta                5952.083  6,299.54        -5.52
 Kuala Lumpur           1542.8    1588.76         -2.89
 Ho Chi Minh            930.73    960.99          -3.15
 


 (Reporting by Arundhati Dutta; Editing by Subhranshu Sahu)
  
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