SE Asia Stocks-Vietnam hits 8-1/2-year high; Philippines up

miércoles 28 de septiembre de 2016 01:01 GYT

By Suhail Hassan Bhat
    Sept 28 (Reuters) - Vietnam shares hit an
eight-and-a-half-year high on Wednesday, led by commercial
banks, while Philippine stocks rose after three sessions of
falls with financials and industrials leading the gains.
    Other Southeast Asian markets were sluggish, tracking
weakness in Asian stocks on concerns over the European banking
sector and as lower crude oil prices hurt investors' risk
    Oil fell about 3 percent on Tuesday after Saudi Arabia and
Iran dashed hopes of finding a compromise this week to help ease
a global glut, before rising in early trade on Wednesday as
industry data showed a surprise draw in U.S. crude stocks. 
    Markets are looking forward for next sign, and it is the
third-quarter corporate earnings, said Mikey Macainag, an
analyst with Manila-based Sunsecurities Inc.
    "The energy sector is still volatile as the oil oversupply
cut is yet to come." 
    The Vietnam Stock Index was headed for an eighth
session of gains with Vietnam Joint Stock Commercial Bank for
Industry and Trade rising as much as 2.61 percent,
while steel conglomerate Hoa Phat Group Joint Stock Company
 climbed 1.5 percent.
    Singapore shares fell, weighed down by financials
such as Oversea-Chinese Banking Corp Ltd which dropped
0.58 percent. 
    Rig builder Keppel Corp and Sembcorp Industries
 declined 0.76 percent and 0.39 percent, respectively.
    Philippine shares were higher with BDO Unibank Inc
 and International Container Terminal Services Inc
 rising 1.45 percent and 0.4 percent, respectively.
    Indonesian shares gave up the previous session's
gains, dragged down by financials and telecoms.
    Bank Central Asia Tbk PT dropped 2.8 percent,
while Telekomunikasi Indonesia (Persero) was down 0.7
    Thailand shares were headed for a fourth straight
session of declines, while Malaysia was up after two
days of falls.
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  STOCK MARKETS                                     
  Change at 0344                                    
  Market           Current    Previous     Pct Move
  Singapore        2853.64    2860.23      -0.23
  Bangkok          1487.11    1489.39      -0.15
  Manila           7582.83    7557.34      0.34
  Jakarta          5394.713   5419.604     -0.46
  Kuala Lumpur     1666.17    1664.72      0.09
  Ho Chi Minh      687.05     684.89       0.32
  Change this                              
  Market           Current    End 2015     Pct Move
  Singapore        2853.64    2882.73      -1.01
  Bangkok          1487.11    1288.02      15.46
  Manila           7582.83    6952.08      9.07
  Jakarta          5394.713   4593.008     17.45
  Kuala Lumpur     1666.17    1692.51      -1.56
  Ho Chi Minh      687.05     579.03       18.66

 (Reporting by Suhail Bhat; Editing by Subhranshu Sahu)