January 24, 2020 / 4:22 AM / 25 days ago

SE Asia Stocks-Markets trade in tight range on China virus fears, holidays

    * WHO says not declaring China virus a global emergency
    * Resources, utility stocks weigh on Malaysia
    * Week-long Lunar New Year holiday starts

    By Soumyajit Saha
    Jan 24 (Reuters) - Southeast Asian stock markets traded in a
tight range on Friday as fears of rapid spread of a flu-like
virus outbreak in China kept investors on guard and the
week-long Chinese Lunar New Year holiday kicked off.
    The World Health Organisation called the new coronavirus
that has killed 25 people in China and infected 830 called "an
emergency in China" on Thursday but stopped short of declaring
the epidemic of international concern.

    Health officials fear the transmission rate could accelerate
as hundreds of millions of Chinese travel at home and abroad
during the Lunar New Year holidays.
    "Market sentiment continues to be overshadowed by reports of
more cases of the Wuhan virus," ING Bank said in a note to
clients.    
    Trading volumes were thin across Southeast Asian markets,
with financial markets in China, Taiwan, South Korea and Vietnam
closed on Friday.
    Malaysian shares fell for a fifth straight session, 
with losses in the resources and utility sectors weighing on the
index. 
    Electricity provider Tenaga Nasional lost 1.7%,
while chemicals maker Petronas Chemicals Group was
down 2%.
    For the week, the benchmark stock index was down more than
1.5%, heading for its biggest weekly drop since the week ended
Nov. 29, 2019.
    Singapore shares were marginally higher ahead of
December manufacturing output data due later in the day, with
financial and telecom stocks leading gains.
    For the week, the benchmark stock index was down 1.3% after
four straight weeks of gains.
    Thai stocks gained slightly, helped by financials
and telecoms, but were on track to post a weekly drop of more
than 1%.
    Lender Siam Commercial Bank and telecom company
Advanced Info Service PCL rose 0.8% and 0.5%,
respectively.    
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0310 GMT
  STOCK MARKETS                                         
  Change on the                                         
 day                                           
  Market            Current       Previous     Pct Move
                                  close        
  Singapore         3236.89       3234.56      0.07
  Bangkok           1574.92       1573.7       0.08
  Manila            7614.28       7616.35      -0.03
  Jakarta           6245.973      6249.21      -0.05
  Kuala Lumpur      1569.36       1574.44      -0.32
                                               
  Change so far in                             
 2020                                          
  Market            Current       End 2019     Pct Move
  Singapore         3236.89       3222.83      0.44
  Bangkok           1574.92       1579.84      -0.31
  Manila            7614.28       7,815.26     -2.57
  Jakarta           6245.973      6,299.54     -0.85
  Kuala Lumpur      1569.36       1588.76      -1.22
  Ho Chi Minh       991.46        960.99       3.17
 

 (Reporting by Soumyajit Saha in Bengaluru; Editing by
Subhranshu Sahu)
  
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