* Malaysia down for seventh consecutive session
* Thailand up after seven straight session of falls
* Philippines declines for third session in a row
By Arpit Nayak
Jan 29 (Reuters) - Most Southeast Asian stock markets rose
slightly on Wednesday after a steep selloff in the previous
session, but worries over the rapid spread of the coronavirus in
China and its potential economic impact continued to weigh on
investor sentiment.
The death toll from the virus outbreak rose sharply to 132
with nearly 1,500 new cases, and countries continued to impose
travel curbs and pull out nationals from Wuhan as fears over the
virus grew. Caution will remain in the market until China contains the
outbreak, said KGI Securities analyst Joel Ng.
"Most investors are still assessing its impact on economic
growth," he said, adding that Thailand, Cambodia and Hong Kong
would be hit as the virus is likely to affect 50% of outgoing
Chinese tourists.
Asian equities advanced in early trade, tracking Wall
Street's gains and after the World Health Organisation expressed
confidence in China's ability to contain the spread of the
virus. However, they lost momentum as Hong Kong .HSI played
catch-up with the rest of Asia, dropping nearly 3% on opening
after the Lunar New Year holiday.
Singapore shares .STI climbed after Tuesday's near 2%
drop, helped by industrial and consumer stocks.
Jardine Strategic Holdings JSH.SI rose nearly 1.4%, while
beer manufacturer Thai Beverage TBEV.SI tacked on 1.9%.
Philippine shares .PSI were headed for a third straight
session of losses, with financials and industrials being the
major drags on the index.
Conglomerates Ayala Corp AC.PS and JG Summit Holdings
JGS.PS lost 1% and 2.4%, respectively.
Malaysian shares .KLSE were on track for a seventh
straight session of losses, as healthcare and utilities stocks
ran out of steam after a robust performance in the previous
session.
Glove makers Hartalega Holdings HTHB.KL and Top Glove Corp
TPGC.KL fell 2.9% and 3.7%, respectively, while hospital owner
IHH Healthcare IHHH.KL lost 1%.
Electricity supplier Tenaga Nasional TENA.KL , the
third-largest stock on the index, dipped over 1.7%.
Indonesian shares .JKSE added 0.7%, buoyed by a 1.8% gain
in telecom giant Telekomunikasi Indonesia TLKM.JK .
Tobacco company Hanjaya Mandala Sampoerna HMSP.JK rose
1.4%, while petrochemical firm Chandra Asri Petrochemical
TPIA.JK added about 2%.
Thai stocks .SETI rose after seven consecutive sessions of
falls, helped by financial and real estate stocks, while firm
oil prices also provided some support to heavyweight energy
stocks.
Meanwhile, data showed December factory output contracted
for an eighth straight month but was better than a Reuters poll
forecast.
Vietnam .VNI remained closed on account of the Lunar New
Year holiday. Trading will resume on Thursday.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS at 0346 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3189.24 3181.25 0.25
Bangkok 1526.09 1513.26 0.85
Manila 7445.62 7468.7 -0.31
Jakarta 6123.703 6111.184 0.20
Kuala Lumpur 1550.47 1551.64 -0.08
Change so far in 2020
Market Current End 2019 Pct Move
Singapore 3189.24 3222.83 -1.04
Bangkok 1526.09 1579.84 -3.40
Manila 7445.62 7,815.26 -4.73
Jakarta 6123.703 6,299.54 -2.79
Kuala Lumpur 1550.47 1588.76 -2.41
Ho Chi Minh 991.46 960.99 3.17