February 14, 2020 / 10:19 AM / 8 days ago

SE Asia Stocks-Most log weekly losses as virus concerns remain

    * Philippines leads declines, down 1.6%
    * Singapore sole weekly gainer
    * Thailand full-year growth may have fallen to 5-year low -
poll

    By Arundhati Dutta
    Feb 14 (Reuters) - Most Southeast Asian stock markets closed
lower on Friday after wavering between small gains and losses
for most parts of the day, as investors assessed the impact of
the coronavirus outbreak after an updated diagnostic method
continued to reveal more cases.
    China's National Health Commission said it had recorded 121
new deaths and 5,090 new virus cases on the mainland on Feb. 13,
taking the total number of infected to 63,851 people.

    Malaysia and Thailand pledged to implement measures to
support their economies hit by the outbreak.

    Except Singapore, all markets logged weekly losses at the
end of a volatile week where shares rallied at the slightest
sign of the epidemic slowing.
    A new diagnostic method led to a surge in infections and
deaths on Thursday in China's Hubei province, the epicentre of
the outbreak.
    "The picture in Hubei province has been distorted by the
recent revision of data, " OCBC Treasury Research said in a
note.     
    Singaporean equities were tepid throughout the
session, but logged their biggest weekly gain in over three
months. 
    The Thai index gave up early gains to close 0.4%
lower, weighed by the utilities sector. Electricity companies
Gulf Energy Development Pcl and B.Grimm Power Pcl
 fell 2.6% and 5.2%, respectively. 
    Thailand's economy likely slowed in the last quarter of 2019
as exports were hit by the U.S.-China trade tensions, while
full-year growth may have eased to weakest in five years, a
Reuters poll showed.
   Philippine stocks tumbled 1.6%, dragged by losses in
heavyweight financials Public Bank and Hong Leong
Financial Group. The index has shed 3% over the week. 
    Shares in Vietnam and Indonesia were flat.  
    Indonesia's trade deficit is likely to have widened in
January, with both exports and imports remaining weak at the
start of the year, according to a Reuters poll.
        
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS
    
 STOCK MARKETS                                    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3220.03   3220.09         0.00
 Bangkok                1526.3    1532.77         -0.42
 Manila                 7282      7403.12         -1.64
 Jakarta                5866.945  5871.954        -0.09
 Kuala Lumpur           1544.46   1539.16         0.34
 Ho Chi Minh            937.45    938.24          -0.08
                                                  
 Change so far in 2020                            
 Market                 Current   End 2019        Pct Move
 Singapore              3220.03   3222.83         -0.09
 Bangkok                1526.3    1579.84         -3.39
 Manila                 7282      7,815.26        -6.82
 Jakarta                5866.945  6,299.54        -6.87
 Kuala Lumpur           1544.46   1588.76         -2.79
 Ho Chi Minh            937.45    960.99          -2.45
 


 (Reporting by Arundhati Dutta; Editing by Shounak Dasgupta)
  
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