SE Asia Stocks-Philippines marks biggest drop in history, others fall on coronavirus panic

    * Philippines sees biggest intraday loss ever
    * Indonesia hits fourth circuit breaker in six sessions
    * Singapore headed for seventh consecutive session of losses

    By Arpit Nayak
    March 19 (Reuters) - Philippines plunged 24% on Thursday on
reopening after a two-day hiatus, while other Southeast Asian
stock markets also sustained heavy losses on fears over the
economic damage from the coronavirus pandemic.
    The Philippine bourse opened 12.4% lower, triggering
the first 10% circuit breaker following which a 15-minute
trading halt was placed within minutes of the opening bell. 
    On resuming trade, the index fell 24.3%, marking its biggest
intraday percentage fall on record and hitting its lowest level
in nearly eight and a half years.
    With regards to Asia market, it appears that a downtrend
continues to be the case, said Jingyi Pan, market strategist at
IG, in a note.
    "... With the overtly weak sentiment in the market on the
back of the global coronavirus fears, riskier Asia could remain
unfavoured by the market in the short-term."
    Financial markets have been heavily hit over the past month
as coordinated efforts from major central banks to blunt the hit
of the virus that has now infected more than 210,000 people,
shutdown countries and halted business activities, failed to
calm jittery investors.
    Philippines has imposed strict quarantine measures across
the island of Luzon, where capital Manila is located, in a bid
to slow the spread of the virus. The country's central bank is
expected to cut interest rates when it meets later in the day.

    Indonesia's central bank is also widely expected to slash
its key policy rate on Thursday.
    Indonesian equities fell 5%, triggering a circuit
breaker for the fourth time in six sessions.
    Financial and consumer stocks were the biggest losers, with
Bank Central Asia and household goods maker Unilever
Indonesia falling about 7% each.    
    Singapore shares dropped 4.3%, heading for a seventh
straight session of losses.
    Lender Oversea-Chinese Banking Corp and
conglomerate Jardine Strategic Holdings lost 4.2% and
11.7%, respectively.
    Malysian stocks slid 1.8% and is set for a sixth
consecutive session of losses, as the country observes a
two-week partial lockdown.
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  Change on the                                    
  Market          Current      Previous    Pct Move
  Singapore       2325.18      2425.62     -4.14
  Bangkok         1013.59      1048.15     -3.30
  Manila          4419.56      5335.37     -17.16
  Jakarta         4113.647     4330.674    -5.01
  Kuala Lumpur    1218.12      1239.01     -1.69
 Ho Chi Minh      719.34       747.66      -3.79
  Change so far                            
 in 2020                                   
  Market          Current      End 2019    Pct Move
  Singapore       2325.18      3222.83     -27.85
  Bangkok         1013.59      1579.84     -35.84
  Manila          4419.56      7,815.26    -43.45
  Jakarta         4113.647     6,299.54    -34.70
  Kuala Lumpur    1218.12      1588.76     -23.33
  Ho Chi Minh     719.34       960.99      -25.15

 (Reporting by Arpit Nayak; Editing by Amy Caren Daniel)