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Most fall as cornavirus death toll climbs, investors book profits

04/08/2020 | 07:00am EST
University student interns monitor trading at the Philippine Stock Exchange in Manila's Makati financial district

Most Southeast Asian stock markets closed lower on Wednesday as a mounting death toll from the global coronavirus outbreak prompted investors to book profits after sharp gains earlier this week.

The United States posted a record single-day jump of more than 1,800 coronavirus deaths, while France has officially registered more than 10,000 fatalities so far.

The day's losses halted a rally in equities over the past two sessions on early optimism that the virus could be peaking.

A fall in energy stocks pushed the Thai benchmark 0.8% lower on Wednesday, with PTT and PTT Exploration and Production falling at least 4% each.

Leading losses in the region, Indonesian equities slumped 3.2%, with financials weighing on the benchmark index. PT Bank Mandiri (Persero) Tbk and PT Bank Negara Indonesia (Persero) Tbk both fell 7%.

Beginning Friday, Indonesia's capital Jakarta will impose large-scale social restrictions including closures of schools and workplaces to curb the spread of the coronavirus in the hardest hit area of the country.

Singaporean stocks shed 1.3%, with big cap conglomerates Jardine Matheson Holdings Ltd falling 3.8% and Jardine Strategic Holdings Ltd slipping 1.5%.

The Malaysian index fell 0.6%, dragged lower by power utility Tenaga Nasional, down 2%.

Philippine equities ended 2.5% lower.

On the upside, Vietnamese shares recovered from early losses and posted a sixth straight session of gains.

For Asian Companies click; [nTOPEQA]

SOUTHEAST ASIAN STOCK MARKETS

STOCK MARKETS

Change on the

day

Market Current Previous Pct Move

close

Singapore 2539.44 2571.89 -1.26

Bangkok 1205.77 1214.95 -0.76

Manila 5510.83 5650.01 -2.46

Jakarta 4626.695 4778.639 -3.18

Kuala Lumpur 1361.39 1369.92 -0.62

Ho Chi Minh 748.02 746.69 0.18

Change so far

in 2020

Market Current End 2019 Pct Move

Singapore 2539.44 3222.83 -21.20

Bangkok 1205.77 1579.84 -23.68

Manila 5510.83 7,815.26 -29.49

Jakarta 4626.695 6,299.54 -26.56

Kuala Lumpur 1361.39 1588.76 -14.31

Ho Chi Minh 748.02 960.99 -22.16

By Arundhati Dutta


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CHANGE INC. -4.66% 3475 End-of-day quote.-1.42%
JARDINE MATHESON HOLDINGS LIMITED 0.92% 58.1 End-of-day quote.3.75%
JARDINE STRATEGIC HOLDINGS LIMITED 0.29% 27.41 End-of-day quote.10.17%
LETS HOLDINGS GROUP CO., LTD. 5.79% 7.86 End-of-day quote.1.03%
LOOK HOLDINGS INCORPORATED -1.40% 918 End-of-day quote.-4.08%
PT BANK MANDIRI (PERSERO) TBK -0.69% 7200 End-of-day quote.13.83%
PT BANK NEGARA INDONESIA (PERSERO) TBK -2.33% 6275 End-of-day quote.1.62%
PTT -3.07% 39.5 End-of-day quote.-7.06%
PTT EXPLORATION AND PRODUCTION -0.89% 111.5 End-of-day quote.13.49%
SET -1.03% 1497.88 Real-time Quote.4.43%
TBK CO., LTD. -0.23% 440 End-of-day quote.-1.35%
TENAGA NASIONAL -1.01% 9.78 End-of-day quote.-6.14%
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