SE Asia Stocks-Largely up; Philippines snaps 3-day losing streak
By Suhail Hassan Bhat Sept 28 (Reuters) - Most Southeast Asian stocks edged higher on Wednesday, with the Philippine index gaining after three sessions of losses while shares in Vietnam hit an eight-and-a-half-year high. Analysts said sentiment towards riskier assets improved after data on Tuesday showed U.S. consumer confidence this month hit its highest since 2007. Philippine shares led other markets in the region, driven by financials and industrials, with SM Prime Holdings and JG Summit Holdings among the top performers. Vietnam shares rose for the eighth straight session to record their longest streak of wins since March 2014, with nearly every sector, including energy, ending in positive territory. Oil prices rose after sharp losses in the previous session, as industry data showed a surprise draw in U.S. crude stocks, although worries over a lack of agreement among producers to curb output kept a lid on gains. "The energy sector is still volatile as the oil oversupply cut is yet to come," said Mikey Macainag, an analyst with Manila-based Sunsecurities Inc. Indonesian shares recouped early losses to post a second session of gains, mainly driven by financial stocks. Singapore shares were down 0.08 percent while Malaysia closed flat. Thailand posted a fourth straight session of declines, with blue-chips Siam Commercial Bank, Kasikornbank Pcl and Advanced Info Service among the losers. Asian shares spent much of the trading session in negative territory, on investor concern about the state of the European banking sector and oil prices. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on day Market Current Previous Pct Move Close Singapore 2858.01 2860.23 -0.08 Bangkok 1479.58 1489.39 -0.66 Manila 7586.96 7557.34 0.39 Jakarta 5425.337 5419.604 0.11 Kuala Lumpur 1664.96 1664.72 0.01 Ho Chi Minh 686.72 684.89 0.27 Change so far this year Market Current End 2015 Pct Move Singapore 2858.01 2882.73 -0.86 Bangkok 1479.58 1288.02 14.87 Manila 7586.96 6952.08 9.13 Jakarta 5425.337 4593.008 18.12 Kuala Lumpur 1664.96 1692.51 -1.63 Ho Chi Minh 686.72 579.03 18.60 (Reporting by Suhail Bhat; Editing by Sunil Nair)
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