* Philippines suspends stock and bond trading indefinitely
* Markets unimpressed by coordinated stimulus, policy
-analyst
* Indonesian index hits circuit breaker for the 3rd time in
four
sessions
By Arpit Nayak
March 17 (Reuters) - Southeast Asian stock markets fell on
Tuesday, while the Philippine bourse suspended trading
indefinitely in an unprecedented move, on fears of the damaging
effects stemming from the coronavirus pandemic.
Philippines shut down trading on its stock exchange .PSI
and bond markets until further notice in a bid to protect the
safety of traders, even as it put half its population of 107
million under a strict home quarantine to curb the spread.
While Philippines managed to escape the broad losses in
markets, other markets in the region suffered after Wall
Street's main indexes clocked a historic rout overnight in their
biggest plunge since the 1987 'Black Monday' market crash.
"The global growth picture looks increasingly dire and
subject to further down-side risks as the 'unknowns'... are more
glaring than the 'knowns'," said Venkateswaran Lavanya, analyst
at Mizuho Bank, in a note.
Lavanya also said that despite monetary policy action across
the board and a commitment from G7 leaders to coordinate
measures, global markets "remained unimpressed".
Indonesian equities .JKSE ended 5% lower, after having
triggered a circuit breaker that halted trading for thirty
minutes - the third such instance across the last four trading
sessions.
Financials and consumers were the worst hit, with Bank
Central Asia BBCA.JK falling 7% and household goods maker
Unilever Indonesia UNVR.JK losing 6.8%.
Singapore shares .STI fell 1.7%, to close at their lowest
in at least 10 and a half years. Lender DBS Group Holdings
DBSM.SI and real estate firm Capitaland CATL.SI lost about
3% each.
However, losses were limited by data that showed the
city-state's exports grew 3% in February buoyed by increased
shipments of electronics and specialised machinery, against
expectations for a sharp decline. The Thai bourse .SETI fell 1% in a low-volume and highly
volatile trading session. The tourism-reliant nation approved
plans to postpone next month's Thai New Year holiday and close
schools to limit the spread of the virus. Malaysian stocks .KLSE fell 1.9%, despite the government
bumping up its stimulus package by $230 million to combat the
impact of the virus.
The nation closed off its borders, restricted internal
movement, shut schools and universities and ordered most
businesses to close after a rapid rise in coronavirus cases.
Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 2454.53 2495.77 -1.65
Bangkok 1035.17 1046.08 -1.04
Jakarta 4456.749 4690.657 -4.99
Kuala Lumpur 1256.58 1280.63 -1.88
Ho Chi Minh 745.78 747.86 -0.28
Change so far in 2020
Market Current End 2019 Pct Move
Singapore 2454.53 3222.83 -23.84
Bangkok 1035.17 1579.84 -34.48
Manila 5335.37 7,815.26 -31.73
Jakarta 4456.749 6,299.54 -29.25
Kuala Lumpur 1256.58 1588.76 -20.91
Ho Chi Minh 745.78 960.99 -22.39