SE Asia Stocks-Philippines outperforms, most others rangebound
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. For Asian Companies click; For South East Asia Hot Stock reports, click; 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)
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