* WHO declares coronavirus a global health emergency
* Singapore posts biggest monthly drop since August
* Malaysia closes at an eight-year low
By Arpit Nayak
Jan 31 (Reuters) - The Philippine and Vietnam indexes
slumped over 2% on Friday, while other Southeast Asian stock
markets also extended losses to close lower as fears about the
spread of coronavirus triggered sell-offs across the region.
The World Health Organisation on Thursday declared the virus
a global health emergency, as the death toll surpassed the
200-mark in China while at least 22 other countries reported
infections. Economists fear the hit to China's economy from the virus
could result in a greater economic impact to the world's economy
than that of the 2002/2003 Severe Acute Respiratory (SARS)
epidemic, since China's share of the global economy is now far
greater.
Fears of the spreading coronavirus in China - the region's
largest trading partner - have knocked global stock markets over
the past week. Transport, tourism, retail and luxury stocks have
been at the frontline.
The Philippine index .PSI tumbled for a fifth consecutive
session to close at its lowest since Nov 2018, with financial
and consumer sectors being the biggest drags. BDO Unibank
BDO.PS shed about 4%, while conglomerate SM Investments
SM.PS lost 2.4%.
Malaysian shares .KLSE extended their losing streak to
nine sessions and closed at an eight-year low.
Thai stocks .SETI also ended weaker, with utilities and
consumer sectors accounting for bulk of the losses, while the
index posted its seventh monthly decline.
Thailand's economy is expected to grow less than forecast
this year due to coronavirus' impact on tourism, said a country
official, after the trade-reliant economy reported a contraction
in December exports earlier in the day. The Singapore index .STI posted its biggest monthly drop
since August, and recorded a weekly decline of 2.7%.
Lender DBS Group Holdings DBSM.SI ended 1.3% lower, while
heavyweight Singapore Telecommunications STEL.SI shed 2.1%.
Vietnam stocks .VNI came under pressure by a drop in
financial and consumer sectors. The bourse lost 5.5% this week.
Indonesia shares .JKSE eased to an eight-month low, with
Bank Central Asia BBCA.JK and household goods maker Unilever
Indonesia UNVR.JK losing over 3% each.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3153.73 3170.68 -0.53
Bangkok 1514.14 1523.99 -0.65
Manila 7200.79 7392.68 -2.60
Jakarta 5940.048 6057.596 -1.94
Kuala Lumpur 1531.06 1545.59 -0.94
Ho Chi Minh 936.62 959.58 -2.39
Change so far in 2020
Market Current End 2019 Pct Move
Singapore 3153.73 3222.83 -2.14
Bangkok 1514.14 1579.84 -4.16
Manila 7200.79 7,815.26 -7.86
Jakarta 5940.048 6,299.54 -5.71
Kuala Lumpur 1531.06 1588.76 -3.63
Ho Chi Minh 936.62 960.99 -2.54