* WHO declares coronavirus outbreak a global health
emergency
* Philippines set for fifth straight session of losses
* Indonesia set to fall over 4% for the week
By Arpit Nayak
Jan 31 (Reuters) - Southeast Asian stock markets extended
losses on Friday after the World Health Organisation (WHO)
declared the coronavirus outbreak a global emergency, with
Indonesia and Philippines easing over 1% each.
The death toll from the virus crossed the 200-mark in China
with confirmed cases of infection reported in at least 22 other
countries and regions. The WHO director-general on Thursday said the greatest
concern was the virus' potential spread to countries with weaker
healthcare systems, compounded by cases of person-to-person
transfer of the virus outside China.
Economists have signalled the impact of the new virus could
be worse than that of the Severe Respiratory Syndrome (SARS)
epidemic in 2002-2003, which took 800 lives and cost the global
economy an estimated $33 billion. All south-east Asian markets were headed for weekly losses
as the virus continued to dampen risk appetite in the region.
Providing some relief, China's manufacturing activity in
January was in line with expectations, dodging a contraction.
"China markets' return in the coming week will be assessed
for impact and could add to the noise as selling gets underway,"
IG Market Strategist Jingyi Pan said in note.
With the growing reassessment of the growth trajectory for
China this year by brokers following the virus outbreak, the
sentiment may be overtly bearish at present, the note added.
Indonesian shares .JKSE slumped as much as 1.7% and were
on course to slip 4.2% for the week, with financial and consumer
stocks being the biggest drags on the index.
An index of Indonesia's 45 most liquid stocks .JKLQ45 fell
over 2%.
Bank Rakyat Indonesia BBRI.JK shed 2.6% and household
goods maker Unilever Indonesia UNVR.JK dipped 2.7%.
Philippine stocks .PSI lost 1.8%, on course for a fifth
consecutive session of losses and were set to be down 4.8% for
the week.
Financials and consumer stocks took the biggest hit, with
BDO Unibank BDO.PS and conglomerate SM Investments SM.PS
dropping 2.9% and 2.2%, respectively.
Singapore shares .STI dipped 0.3% and headed for a loss of
about 1.8% for the month, with conglomerate DBS Group Holdings
DBSM.SI losing 1.4% and Mapletree Logistics Trust MAPL.SI
down 1.1%.
Vietnamese stocks .VNI fell nearly 1% after losing over 3%
in the previous session.
The Malaysian index .KLSE inched lower 0.1%, following
eight consecutive sessions of losses.
The Thai bourse .SETI inched 0.3% lower, ahead of trade
data for December expected later on Thursday.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS as at 0405 GMT
STOCK MARKETS
Change on the
day
Market Current Previous Pct Move
close
Singapore 3163.3 3170.68 -0.23
Bangkok 1520.48 1523.99 -0.23
Manila 7260.37 7392.68 -1.79
Jakarta 5977.3 6057.596 -1.33
Kuala Lumpur 1544.99 1545.59 -0.04
Ho Chi Minh 955.47 959.58 -0.43
Change so far in
2020
Market Current End 2019 Pct Move
Singapore 3163.3 3222.83 -1.85
Bangkok 1520.48 1579.84 -3.76
Manila 7260.37 7,815.26 -7.10
Jakarta 5977.3 6,299.54 -5.12
Kuala Lumpur 1544.99 1588.76 -2.75
Ho Chi Minh 955.47 960.99 -0.57