SE Asia Stocks-Steady as markets look for respite from coronavirus fears
* 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 advanced nearly 1% and are on track to snap three straight sessions of losses. Benchmark heavyweights Oversea-Chinese Banking Corporation rose 0.8% and Jardine Matheson Holdings gained 0.4% . Banking and healthcare sectors helped prop-up the Malaysian benchmark index, up 0.7%, after it ended 2.7% lower the previous day. Lender Malayan Banking rose 1.1% and hospitals operator IHH Healthcare gained 1%. Thai shares fell 0.6% to their lowest level in over three years, hurt by losses among banking and telecom stocks. Lender Kasikornbank lost 1.2% and telecom company Intouch Holdings 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 (Reporting by Soumyajit Saha in Bengaluru; Editing by Amy Caren Daniel)
