SE Asia Stocks-Vietnam underperforms as energy stocks drag; others rangebound
Nov 26 (Reuters) - Vietnam's benchmark VN Index dropped 1.7 percent on Wednesday to a five-month closing low, dragged lower by the oil and gas sector on a sharp drop in global oil prices. The meeting between Saudi Arabia and Venezuela with non-OPEC oil producers Russia and Mexico on Tuesday resulted in no deal to curb output against a 30 percent slump in prices since June, dragging Brent down before it rebounded on Wednesday on comments by Saudi Arabia's oil minister that the oil market would stabilise. Analysts said investors waited for clues about the global economy from U.S. data, including personal income and spending, durable goods orders, and weekly jobless claims, due later in the day. Shares of PetroVietNam Gas, Vietnam's biggest firm by market value, fell 4.6 percent to a six-month low, while Petrovietnam Drilling and Well Services Corp lost 3.5 percent. The Jakarta Composite Index closed 0.3 percent firmer, the Singapore index ended up 0.1 percent, and the Malaysian stock index finished 0.2 percent higher for a third straight winning session. Philippine stocks outperformed the region, rising 1 percent to its highest since Sept. 25 on Wednesday with SM Investments and Philippine Long Distance Telephone Co gaining 2.4 percent and 1 percent, respectively. The Thai index ended down 0.4 percent. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 3349.66 3344.99 +0.14 Kuala Lumpur 1842.17 1838.56 +0.20 Bangkok 1591.00 1596.80 -0.36 Jakarta 5133.04 5118.95 +0.28 Manila 7356.59 7286.85 +0.96 Ho Chi Minh 576.04 585.91 -1.68 Change on year Market Current End 2013 Pct Move Singapore 3349.66 3167.43 +5.75 Kuala Lumpur 1842.17 1866.96 -1.33 Bangkok 1591.00 1298.71 +22.51 Jakarta 5133.04 4274.18 +20.09 Manila 7356.59 5889.83 +24.90 Ho Chi Minh 576.04 504.63 +11.15 (Reporting by Shihar Aneez in COLOMBO and Mai Nguyen in HANOI; Editing by Biju Dwarakanath)
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