SE Asia Stocks-Philippines outperforms, most others rangebound

miércoles 26 de noviembre de 2014 04:45 GYT
 

Nov 26 (Reuters) - Philippine stocks rose to two-month high
on Wednesday, outperforming other markets in the region as
investors waited for a raft of U.S. data and ahead of a crucial
OPEC meeting.
    The Philippine stock index advanced 1 percent to its
highest since Sept. 25 with SM Investments and
Philippine Long Distance Telephone Co gaining 2.4
percent and 1 percent, respectively.
    Analysts said investors waited for clues on the global
economy from U.S. data, including personal income and spending,
durable goods orders, and weekly jobless claims, due later in
the day. 
    Investors were also keeping a close watch on crude oil
prices after some major oil producers, including Saudi Arabia,
Russia, Mexico, and Venezuela, could not agree on a production
cut ahead of a meeting of the Organization of the Petroleum
Exporting Countries (OPEC) on Thursday. Crude futures hit a
four-year low.
    The U.S. government upgraded its reading on third-quarter
gross domestic product to 3.9 percent on Tuesday from 3.5
percent reported last month. Economists polled by Reuters had
expected growth would be cut to 3.3 percent. 
    The Jakarta Composite Index was up 0.15 percent,
while the Singapore index was steady. The Malaysian
stock index traded 0.2 percent firmer, heading for a
third straight session of gains. 
    Bucking the trend, the Thai index was down 0.13
percent and Vietnam was lower 1.7 percent. 
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SOUTHEAST ASIAN STOCK MARKETS
 Change at 0810 GMT
 Market             Current     Prev Close    Pct Move
 Singapore          3344.16       3344.99       -0.02
 Kuala Lumpur       1840.63       1838.56       +0.11
 Bangkok            1594.67       1596.80       -0.13
 Jakarta            5126.44       5118.95       +0.15
 Manila             7356.59       7286.85       +0.96
 Ho Chi Minh         576.04        585.91       -1.68
 
 (Reporting by Shihar Aneez; Editing by Subhranshu Sahu)