SE Asia Stocks-Most markets fall on coronavirus concerns

    * China's cenbank says virus could hit to economy in Q1
    * Singapore on track to snap three straight sessions of
    * Philippines set to gain 4% for the week
    By Soumyajit Saha
    Feb 7 (Reuters) - Most Southeast Asian shares fell on Friday
as more deaths related to the virus outbreak deepened worries
about its global economic impact, although regional markets were
set for weekly gains of as much as 4% on China's efforts to
contain the virus.
    With the death toll touching 636 in China, the region's
biggest trading partner, China's central bank said the epidemic
could disrupt economic activity in the first quarter and was
preparing policy options to support the economy.
    "Traders will likely sit out Friday's trading session as
hopes for a quick fix to the virus clash with the rising count
of fatalities and confirmed cases," ING Bank said in a note to
    China this week announced steps to combat the virus spread
and limit its economic impact, but with deaths rising, cities
shut off, flights cancelled and factories closed, global supply
chains have been hit.
    Philippine shares fell as much as 1%, dragged by
losses in financial and industrial sectors, but the benchmark
was on track to gain 4% for the week.
    The country's central bank, in an expected move, cut its key
interest rate after the market closed on Thursday to shield the
economy from the impact of the outbreak.
    Water utilities company Manila Water fell as much
as 10% after port tycoon Enrique Razon's Prime Metroline offered
to acquire the company at 13 pesos per share, a 13% discount to
Thursday's closing price.
    Property developer SM Prime Holdings Inc dropped
more than 2%, while conglomerate JG Summit Holdings Inc
lost 3%.
    Singapore shares were on track to snap three
consecutive sessions of gains, hurt by losses among financial
and consumer stocks.
    Heavyweight Oversea-Chinese Banking Corporation
fell 0.6%, while Thai Beverage was 3.7% lower.
    Malaysian stocks dropped, although the index was on
track to clock gains of more than 1% for the week.
    Lender Public Bank Bhd shed 0.5%, while utilities
company Tenaga Nasional Bhd fell 0.9%.
    Vietnam shares rose, helped by gains in the consumer
sector. Vietnam Dairy Products JSC climbed 1.2%, while
Saigon Beer Alcohol Beverage Corp jumped 3.7%.
For Asian Companies click;
  Change on the
  Market            Current       Previous     Pct Move
  Singapore         3213.54       3231.55      -0.56
  Bangkok           1534.68       1535.79      -0.07
  Manila            7440.58       7506.51      -0.88
  Jakarta           5994.216      5987.145     0.12
  Kuala Lumpur      1548.98       1552.77      -0.24
 Ho Chi Minh        941.76        938.54       0.34
  Change so far in
  Market            Current       End 2019     Pct Move
  Singapore         3213.54       3222.83      -0.29
  Bangkok           1534.68       1579.84      -2.86
  Manila            7440.58       7,815.26     -4.79
  Jakarta           5994.216      6,299.54     -4.85
  Kuala Lumpur      1548.98       1588.76      -2.50
  Ho Chi Minh       941.76        960.99       -2.00
 (Reporting by Soumyajit Saha in Bengaluru; editing by

Powered by WPeMatico