* Singapore shares logs worst session since Aug 2019
* Singapore Airlines closes at near 17-year low
* Thai stocks end lower for seventh straight session
By Arpit Nayak
Jan 28 (Reuters) - Southeast Asian shares tumbled on Tuesday
and Singapore stocks fell the most after the city-state said the
coronavirus outbreak in China, its biggest trading partner,
would bruise its economy this year.
The death toll from the virus in China rose to 106 from 81,
a day earlier and cases of the virus were confirmed across 10
countries. Risk sentiment was dampened by the virus' rapid progress
even as China ramped up preventive measures, imposed travel
restrictions and stretched out the Lunar New Year holidays to
contain the spread of the virus.
The massive jump in outbound Chinese tourists since 2002,
the fact that the coronavirus is infectious during incubation
and its unknown origins are the most worrisome factors, said
Vishnu Varathan, senior economist at Mizuho Bank, in a note.
Singapore stocks .STI pared early losses to close about
1.8% lower, with lender DBS Group Holdings DBSM.SI shedding
more than 1.3% and conglomerate Jardine Matheson Holdings
JARD.SI JARD.SI down about 1.9%.
Flag-carrier Singapore Airlines SIAL.SI dropped 2.9% to
close at its lowest since April 2003.
Earlier in the session, shares of the travel and tourism hub
fell to an over 8-month low after trade minister Chan Chun Sing
said the government expects an impact on its economy.
Singapore, which is heavily reliant on Chinese nationals
for tourism, recorded its lowest growth rate in a decade last
year.
Malaysian shares .KLSE closed 1.4% lower to register their
sixth straight session of losses. Tourist-dependent Malaysia
Airports Holdings MAHB.KL slipped steeply, falling 6.7% to its
lowest close since February 2017.
Top Glove Corp TPGC.KL , the world's largest manufacturer
of gloves, added nearly 8.3% to end at its highest in over a
year, as the company continued to benefit from hopes of a rise
in demand for rubber gloves due to the virus outbreak.
Hartalega Holdings HTHB.KL , a nitrile glove maker, rose
3.7%, while hospital owner IHH Healthcare IHHH.KL IHHH.KL
climbed 1.7%.
Philippine shares .PSI closed over 1.5% lower, with
financials weighing heavily on the index.
Thai markets .SETI edged down to clock their seventh
consecutive session of losses. However, the fall was relatively
small as the bourse had shed nearly 3% in the previous session,
when most markets were shut for the Lunar New Year holiday.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3181.25 3240.02 -1.81
Bangkok 1513.26 1524.15 -0.71
Manila 7468.7 7587.63 -1.57
Jakarta 6111.184 6133.208 -0.36
Kuala Lumpur 1551.64 1572.81 -1.35
Change so far in 2020
Market Current End 2019 Pct Move
Singapore 3181.25 3222.83 -1.29
Bangkok 1513.26 1579.84 -4.21
Manila 7468.7 7,815.26 -4.43
Jakarta 6111.184 6,299.54 -2.99
Kuala Lumpur 1551.64 1588.76 -2.34
Ho Chi Minh 991.46 960.99 3.17