September 29, 2016 / 10:27 AM / 2 years ago

SE Asia Stocks-Gain on oil price rally; Indonesia up for 3rd session

By Suhail Hassan Bhat
    Sept 29 (Reuters) - Southeast Asian stock markets advanced
on Thursday, tracking Asian shares, with Indonesia posting a
third straight session of gains, as a rally in oil prices
boosted energy stocks across the region.
    Oil futures extended gains after rising nearly 6 percent on
Wednesday, as OPEC members agreed to limit production to a range
of 32.5 million barrels to 33 million barrels per day during
talks held on the sidelines of an energy conference. 
    "It remains to be seen whether such a cut is followed by all
members and whether Russia would follow with a cut of its own,"
Trimegah Securities said in a note.
    "But it would still serve as a positive sentiment, at least
for the short-term."
    Indonesian shares ended up 0.12 percent, after
hitting a near two-month high earlier in the day, with United
Tractors Tbk PT and Adaro Energy Tbk PT 
being among the top performers.
    Indonesia's central bank is intervening in money markets to
provide liquidity after many banking clients withdrew money to
pay for tax amnesty fees, the central bank governor Agus
Martowardojo said. 
    Vietnam shares hit an eight-and-a-half-year high,
recording its longest winning streak of nine sessions since
March 2014. Index heavyweight Petrovietnam Gas Joint Stock Corp
 rose 4.57 percent in heavy trading.
    Philippine shares led the region, and posted their
second straight session of gains, with oil conglomerate Petron
Corp climbing 3.9 percent.
    Singapore shares edged up to post a three-week high.
While the benchmark oil and gas index rose nearly
4 percent, Sembcorp Industries Ltd and Keppel Corp Ltd
 were the top gainers on the index.
    Malaysian shares climbed 0.28 percent with the
country's biggest oil and gas services company SapuraKencana
Petroleum pulling up the index, while Thailand 
snapped four sessions of losses.
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was up 0.7 percent. 
For Asian Companies click;  

  STOCK MARKETS                                        
  Change on day                                        
  Market           Current       Previous     Pct Move
  Singapore        2885.71       2858.01      0.97
  Bangkok          1491.43       1479.58      0.80
  Manila           7714.86       7586.96      1.69
  Jakarta          5431.957      5425.337     0.12
  Kuala Lumpur     1669.64       1664.96      0.28
  Ho Chi Minh      688.55        686.72       0.27
  Change so far                               
 this year                                    
  Market           Current       End 2015     Pct Move
  Singapore        2885.71       2882.73      0.10
  Bangkok          1491.43       1288.02      15.79
  Manila           7714.86       6952.08      10.97
  Jakarta          5431.957      4593.008     18.27
  Kuala Lumpur     1669.64       1692.51      -1.35
  Ho Chi Minh      688.55        579.03       18.91

 (Reporting by Suhail Bhat; Editing by Sherry Jacob-Phillips)
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