* Italy reports seventh coronavirus death
* Singapore on track to snap three sessions of losses
* Bank, telecom stocks hurt Thailand
By Soumyajit Saha
Feb 25 (Reuters) - Southeast Asian stock markets stabilised
on Tuesday, after a steep sell-off in the previous session, as
fears of the coronavirus rapidly spreading beyond China kept
gains in check.
Several Middle East countries were faced with their first
coronavirus cases, while Italy reported its seventh death,
feeding worries it could turn into a pandemic. Outside mainland China, the outbreak has spread to some 29
countries and territories, with a death toll of about two dozen,
according to a Reuters tally.
"Today's movement? It's what I call a dead cat bounce," said
Jeffrey Halley, senior market analyst at OANDA.
"To me these moves look more temporary than structural and I
think they're quite fragile, so these are bounces that I think
will run out of steam very quickly against the bigger global
backdrop."
Singapore stocks .STI advanced nearly 1% and are on track
to snap three straight sessions of losses.
Benchmark heavyweights Oversea-Chinese Banking Corporation
OCBC.SI rose 0.8% and Jardine Matheson Holdings JARD.SI
gained 0.4% .
Banking and healthcare sectors helped prop-up the Malaysian
benchmark index .KLSE , up 0.7%, after it ended 2.7% lower the
previous day.
Lender Malayan Banking MBBM.KL rose 1.1% and hospitals
operator IHH Healthcare IHHH.KL gained 1%.
Thai shares .SETI fell 0.6% to their lowest level in over
three years, hurt by losses among banking and telecom stocks.
Lender Kasikornbank KBANK.BK lost 1.2% and telecom company
Intouch Holdings INTUCH.BK dropped 3.9%.
The Philippine bourse was closed on account of a public
holiday.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS as at 0358 GMT
Change on the day
Market Current Previous close Pct Move
Singapore 3168.36 3142.2 0.83
Bangkok 1427.85 1435.56 -0.54
Jakarta 5801.516 5807.05 -0.10
Kuala Lumpur 1500.44 1490.06 0.70
Ho Chi Minh 895.59 903.34 -0.86
Change so far in 2020
Market Current End 2019 Pct Move
Singapore 3168.36 3222.83 -1.69
Bangkok 1427.85 1579.84 -9.62
Manila 7187.44 7,815.26 -8.03
Jakarta 5801.516 6,299.54 -7.91
Kuala Lumpur 1500.44 1588.76 -5.56
Ho Chi Minh 895.59 960.99 -6.81