* Italy, Iran emerge as new epicenters of fast-spreading
virus
* Indonesian shares at nearly three-year low
* Singapore set for worst week since last August
Feb 27 (Reuters) - Most Southeast Asian stock markets fell
on Thursday as the virus' spread to shores beyond China made
investors swiftly reassess its potential economic impact, with
the Indonesian index .JKSE slipping to a nearly three-year
low.
The number of new coronavirus infections inside China was
for the first time overtaken by fresh cases elsewhere on
Wednesday, with Italy and Iran emerging as new epicenters of the
rapidly spreading flu-like virus.
U.S. health authorities, having confirmed 59 cases so far,
warned that a pandemic is likely.
"Concerns surrounding the latest development of coronavirus
continue to dominate the market, which is expected to stay
choppy to any latest development of the outbreak," Mizuho Bank
said in a note to clients.
Leading losses in the region, Indonesian shares fell up to
2.5% and were on track for a fifth session of losses.
The index was dragged lower by losses in financial stocks,
with Bank Rakyat Indonesia BBRI.JK slumping 6%, while Bank
Central Asia BBCA.JK slipped nearly 2%.
Singapore shares .STI were headed for their worst week
since last August, with financials being the biggest laggards.
Heavyweights Capitaland Ltd CATL.SI and DBS Group Holdings
DBSM.SI shed 1.63% and 0.53%, respectively.
Thai shares .SETI flitted between positive and negative
territory for most of the session, while the Vietnamese index
.VNI dropped to its lowest in more than a year.
Bucking the sombre mood, the Malaysian bourse .KLSE gained
0.3%, with Public Bank Bhd PUBM.KL and Hong Leong Bank Bhd
HLBB.KL climbing 0.5% and 2.2% after both lenders reported
higher quarterly numbers on Wednesday.
"The gain was aided by a potential resolution to the
political impasse and an economic stimulus expected to be
unveiled today," said Imran Yusof, a senior analyst with MIDF
Research.
"The idea is that the stimulus will be enough to arrest the
economic happenings that Malaysia is facing at the moment,"
Yusof added.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0432 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3093.4 3117.52 -0.77
Bangkok 1365.89 1366.41 -0.04
Manila 6967.93 6909.84 0.84
Jakarta 5548.744 5688.921 -2.46
Kuala Lumpur 1498.86 1495.19 0.25
Ho Chi Minh 892.38 895.97 -0.40
Change so far in 2020
Market Current End 2019 Pct Move
Singapore 3093.4 3222.83 -4.02
Bangkok 1365.89 1579.84 -13.54
Manila 6967.93 7,815.26 -10.84
Jakarta 5548.744 6,299.54 -11.92
Kuala Lumpur 1498.86 1588.76 -5.66
Ho Chi Minh 892.38 960.99 -7.14