February 14, 2020 / 4:34 AM / 8 days ago

SE Asia Stocks-Tepid as virus anxiety weighs; Thailand rises on energy stocks

    * China reports 5,000 new virus cases, ship disembarks in
Cambodia
    * The Philippine index leads declines, down up to 0.7%
    * Oil prices set for first weekly gain in six, lift Thai
index
    * Singapore set for biggest weekly gain in over 3 months

    By Arundhati Dutta
    Feb 14 (Reuters) - Southeast Asian stock markets were
subdued on Friday as renewed doubts about the scale of
coronavirus outbreak spooked investors, while the Thai index
rose with its prominent energy sector gaining as oil prices
extended their week-old recovery.
    Financial markets have hinged on virus headlines through the
week and rallied at any sign of infections easing.  
    Officials in Hubei province – the epicentre of the outbreak
- shocked markets on Thursday by announcing a sharp increase in
new infections and deaths from the coronavirus, reflecting the
adoption of a new method to diagnose the illness.
    The province on Friday reported 4,823 new cases, well above
the levels seen earlier this month, but the daily death toll and
number of infections were down sharply from the previous day.

    "The main catalyst for the case for higher equities remains
the promise of global stimulus, but if China's weakness extends
to the second quarter, risk appetite will have trouble driving
risky assets higher, " Edward Moya, analyst at OANDA wrote in a
note. 
    Central banks of Singapore and Malaysia have hinted at
policy easing in the future, while Thailand recently cut its
benchmark interest rate to a record low.

    Leading declines, the Philippine index dropped as
much as 0.7%, dented by losses in conglomerates Ayala Land
 and SM Investments.
    The energy-heavy Thai index was lifted by oil
prices, which were set for their first weekly gain in six.
Petroleum producers PTT Pcl and PTT Exploration and
Production Pcl advanced 0.6% and 1.2%, respectively.
     
    Indonesian equities edged a tick higher, but were
set to log losses for the week. The benchmark index was
supported by consumer stocks, with food distributor PT Indofood
Sukses Makmur Tbk adding up to 1.4%
    Singaporean stocks were subdued, but poised for their
biggest weekly gain in over three months. Index heavyweights
Jardine Strategic Holdings and Jardine Matheson
Holdings advanced up to 1.9% and 1.3%, respectively. 
    Vietnamese shares were little changed. 
    
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0414 GMT
    
 STOCK MARKETS                                    
 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3224.82   3220.09          0.15
 Bangkok                1537.2    1532.77          0.29
 Manila                 7376.53   7403.12         -0.36
 Jakarta                5874.259  5871.954         0.04
 Kuala Lumpur           1537.82   1539.16         -0.09
 Ho Chi Minh            937.98    938.24          -0.03
                                                  
 Change so far in 2020                            
 Market                 Current   End 2019        Pct Move
 Singapore              3224.82   3222.83         0.06
 Bangkok                1537.2    1579.84         -2.70
 Manila                 7376.53   7,815.26        -5.61
 Jakarta                5874.259  6,299.54        -6.75
 Kuala Lumpur           1537.82   1588.76         -3.21
 Ho Chi Minh            937.98    960.99          -2.39
 


 (Reporting by Arundhati Dutta; Editing by Sherry
Jacob-Phillips)
  
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