SE Asia Stocks-Markets fall as coronavirus death toll rises

By Arundhati Dutta

* Vietnam snaps 5-session winning streak * Thailand falls on energy stocks By Arundhati Dutta April 8 (Reuters) - Southeast Asian stock markets fell on Wednesday after two sessions of sharp gains, as the death toll from the new coronavirus continued to climb across the globe even though infections showed signs of a slowdown. New York state suffered the highest daily loss of life from COVID-19 on Tuesday, even as the number of hospitalisations seemed to be levelling off. Italy, the country with the highest death toll at 17,127, reported a fourth consecutive daily decline in the number of people in intensive care. Denting sentiment further, the Financial Times reported the European Union's top scientist resigned after his proposal to set up a programme to battle the pandemic was rejected. "This will probably give pause to markets' mounting optimism about "peak COVID" premised on new cases in Europe begin to show signs of trending lower," Mizuho Bank said in a note. Singaporean stocks slumped as much as 2.5%, with conglomerates Jardine Matheson Holdings Ltd and Jardine Strategic Holdings Ltd shedding 5.9% and 5.5%, respectively. Indonesian equities slipped up to 2.9%, dragged by financials. PT Bank Central Asia Tbk and PT Bank Mandiri (Persero) Tbk lost 1.7% and 4.8%, respectively. Thai stocks snapped three consecutive sessions of gains, with energy stocks slipping the most. PTT Pcl and PTT Exploration and Production Pcl gave up more than 3% each. Vietnamese shares fell after five straight sessions of gains, with financials leading the decline. Philippine shares dropped as much as 2.7%, hurt by losses in big-cap conglomerates such as SM Investments and Ayala Land . For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0322 GMT STOCK MARKETS Change on the day Market Current Previous Pct Move close Singapore 2513.68 2571.89 -2.26 Bangkok 1205.56 1214.95 -0.77 Manila 5504.98 5650.01 -2.57 Jakarta 4641.083 4778.639 -2.88 Kuala Lumpur 1362.71 1369.92 -0.53 Ho Chi Minh 736.8 746.69 -1.32 Change so far in 2020 Market Current End 2019 Pct Move Singapore 2513.68 3222.83 -22.00 Bangkok 1205.56 1579.84 -23.69 Manila 5504.98 7,815.26 -29.56 Jakarta 4641.083 6,299.54 -26.33 Kuala Lumpur 1362.71 1588.76 -14.23 Ho Chi Minh 736.8 960.99 -23.33 (Reporting by Arundhati Dutta; Editing by Subhranshu Sahu)