* China virus outbreak hurts risk sentiment
* Healthcare and consumer stocks hurt Malaysia
* Indonesia slightly higher ahead of cenbank policy meet
By Soumyajit Saha
Jan 23 (Reuters) - Philippine stocks .PSI rose over 1% on
Thursday as investors picked up beaten down names, while most
markets in the region were subdued ahead of Lunar New Year
holidays and the evolving situation over the coronavirus
outbreak in China - the region's largest trading partner.
Philippine stocks saw their best day in almost three weeks
after falling over 2% so far this week.
"I would look into the performance over the last few days,
which is mostly weak, so today's bounce back mostly looks like
bargain hunting from investors," said Charles William Ang,
associate analyst at COL Financial Group.
Gains in financial and consumer sectors helped prop up
Philippines. Real estate developer Ayala Land ALI.PS advanced
2.3%, while packaged food producer Universal Robina Corp
URC.PS rose 1.2%.
The Philippine central bank said gross domestic product
(GDP) growth of 7% was attainable for 2020, while data showed
December quarter GDP up 6.4% year-on-year. Other markets in southeast Asia were subdued as the death
toll from the coronavirus rose to 17, while the World Health
Organization (WHO) said it will decide on Thursday whether to
declare a global emergency over the outbreak. Malaysian shares .KLSE were lower, hurt by losses in the
healthcare and consumer sectors.
Latex glove manufacturer Hartalega Holdings HTHB.KL fell
1.7%, while plantation co Kuala Lumpur Kepong KLKK.KL lost
1.2%.
Indonesian stocks .JKSE edged slightly higher, helped by
gains in consumer stocks and ahead of a central bank policy
meeting later in the day.
A Reuters poll showed Bank Indonesia was likely to hold
rates, while the central bank governor has promised to continue
on a "accommodative monetary policy". A surprise rate cut by Malaysia's central bank yesterday
might "give Bank Indonesia additional confidence to lower its
policy rate," Mizuho Bank said in a note to clients.
The Vietnam bourse was closed for a public holiday.
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SOUTHEAST ASIAN STOCK MARKETS AS AT 0332 GMT
STOCK MARKETS
Change on the
day
Market Current Previous Pct Move
close
Singapore 3249.06 3253.93 -0.15
Bangkok 1576.52 1574.59 0.12
Manila 7534.64 7468.73 0.88
Jakarta 6246.092 6233.453 0.20
Kuala Lumpur 1574.8 1587.33 -0.79
Change so far in
2020
Market Current End 2019 Pct Move
Singapore 3249.06 3222.83 0.81
Bangkok 1576.52 1579.84 -0.21
Manila 7534.64 7,815.26 -3.59
Jakarta 6246.092 6,299.54 -0.85
Kuala Lumpur 1574.8 1588.76 -0.88
Ho Chi Minh 991.46 960.99 3.17