* Vietnam down 2.6%, most since December 2018
* Indonesia flags virus impact on tourism
* Malaysia declines for eighth session
By Arpit Nayak
Jan 30 (Reuters) - Southeast Asian stock markets fell on
Thursday as concerns over the rapid spread of a virus from China
prompted the World Health Organization to reconsider the
severity of the outbreak.
The WHO is due to meet later in the day to reassess if the
epidemic is now a global emergency, as the death toll in China
spiked by 38 to 170 overnight and more cases were reported in
other countries. "The Wuhan virus outbreak has cast a shadow on the prospects
of a manufacturing and capital expenditure recovery, just as the
clouds over the U.S.-China trade war were clearing," analysts at
Maybank Kim Eng said in a research note.
"Countries that are more open and dependent on China trade
and tourism will likely be negatively impacted."
There have been confirmed cases of the virus in Vietnam,
Singapore, Malaysia and Thailand.
Vietnam shares .VNI dropped as much as 2.6%, their most
since December 2018, as the market caught up on the heavy
selling it missed during the Lunar New Year holiday.
The WHO on Wednesday said it was worried about the
person-to-spread of the novel virus in Vietnam. Financials and real estate stocks accounted for the bulk of
losses, with Joint Stock Commercial Bank For Foreign Trade of
Viet Nam VCB.HM and real estate developer Vinhomes JSC
VHM.HM falling 4.4% and 2.7%, respectively.
Singapore shares .STI lost 0.5%, with transport services
provider SATS Ltd SATS.SI dipping 1.5% while property
developer CapitaLand Mall Trust CMLT.SI declined 2.3%.
Thai shares .SETI slipped 0.6% after the trade-reliant
country on Wednesday cut growth and exports forecasts for the
year, with the financial and energy sectors being the biggest
losers on the index.
Export data for December is expected to be released on
Friday.
Indonesian shares .JKSE were 0.4% lower, with non-staple
consumer stocks and financials taking the biggest hit.
Astra International ASII.JK slipped 2.2%, while Bank
Mandiri BMRI.JK dipped 0.6%.
Indonesia's finance minister said on Wednesday the tourism
sector would take a hit due to a drop in the number of Chinese
tourists, who make up a significant part of its tourist
footfalls. Malaysian shares .KLSE declined 0.6% and were headed for
an eighth straight session of losses.
Conglomerate IOI Corp IOIB.KL and chemical producer
Petronas Chemicals Group PCGB.KL lost as much as 2.2% and
2.4%, respectively.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS AS AT 0410 GMT
Market Current Previous close Pct Move
Singapore 3164.71 3182.57 -0.56
Bangkok 1522.06 1524.59 -0.17
Manila 7464.67 7462.31 0.03
Jakarta 6091.946 6113.045 -0.35
Kuala Lumpur 1547.13 1550.47 -0.22
Ho Chi Minh 965.4 991.46 -2.63
Change so far in 2020
Market Current End 2019 Pct Move
Singapore 3164.71 3222.83 -1.80
Bangkok 1522.06 1579.84 -3.66
Manila 7464.67 7,815.26 -4.49
Jakarta 6091.946 6,299.54 -3.30
Kuala Lumpur 1547.13 1588.76 -2.62
Ho Chi Minh 965.4 960.99 0.46