* China's cenbank says virus could hit to economy in Q1
* Singapore on track to snap three straight sessions of
gains
* Philippines set to gain 4% for the week
By Soumyajit Saha
Feb 7 (Reuters) - Most Southeast Asian shares fell on Friday
as more deaths related to the virus outbreak deepened worries
about its global economic impact, although regional markets were
set for weekly gains of as much as 4% on China's efforts to
contain the virus.
With the death toll touching 636 in China, the region's
biggest trading partner, China's central bank said the epidemic
could disrupt economic activity in the first quarter and was
preparing policy options to support the economy.
"Traders will likely sit out Friday's trading session as
hopes for a quick fix to the virus clash with the rising count
of fatalities and confirmed cases," ING Bank said in a note to
clients.
China this week announced steps to combat the virus spread
and limit its economic impact, but with deaths rising, cities
shut off, flights cancelled and factories closed, global supply
chains have been hit.
Philippine shares .PSI fell as much as 1%, dragged by
losses in financial and industrial sectors, but the benchmark
was on track to gain 4% for the week.
The country's central bank, in an expected move, cut its key
interest rate after the market closed on Thursday to shield the
economy from the impact of the outbreak. Water utilities company Manila Water MWC.PS fell as much
as 10% after port tycoon Enrique Razon's Prime Metroline offered
to acquire the company at 13 pesos per share, a 13% discount to
Thursday's closing price. Property developer SM Prime Holdings Inc SMPH.PS dropped
more than 2%, while conglomerate JG Summit Holdings Inc JGS.PS
lost 3%.
Singapore shares .STI were on track to snap three
consecutive sessions of gains, hurt by losses among financial
and consumer stocks.
Heavyweight Oversea-Chinese Banking Corporation OCBC.SI
fell 0.6%, while Thai Beverage TBEV.SI was 3.7% lower.
Malaysian stocks .KLSE dropped, although the index was on
track to clock gains of more than 1% for the week.
Lender Public Bank Bhd PUBM.KL shed 0.5%, while utilities
company Tenaga Nasional Bhd TENA.KL fell 0.9%.
Vietnam shares .VNI rose, helped by gains in the consumer
sector. Vietnam Dairy Products JSC VNM.HM climbed 1.2%, while
Saigon Beer Alcohol Beverage Corp SAB.HM jumped 3.7%.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0300 GMT
STOCK MARKETS
Change on the
day
Market Current Previous Pct Move
close
Singapore 3213.54 3231.55 -0.56
Bangkok 1534.68 1535.79 -0.07
Manila 7440.58 7506.51 -0.88
Jakarta 5994.216 5987.145 0.12
Kuala Lumpur 1548.98 1552.77 -0.24
Ho Chi Minh 941.76 938.54 0.34
Change so far in
2020
Market Current End 2019 Pct Move
Singapore 3213.54 3222.83 -0.29
Bangkok 1534.68 1579.84 -2.86
Manila 7440.58 7,815.26 -4.79
Jakarta 5994.216 6,299.54 -4.85
Kuala Lumpur 1548.98 1588.76 -2.50
Ho Chi Minh 941.76 960.99 -2.00