April 12, 2017 / 11:16 AM / a year ago

SE Asia Stocks-Largely higher but geopolitical risks cap gains

    April 12 (Reuters) - Most Southeast Asian stocks settled
higher on Wednesday as energy shares climbed on reports that
Saudi Arabia was lobbying oil producers to extend an output cut,
but the rising geopolitical woes curbed gains.
    Brent oil extended gains into an eighth straight session on
Wednesday, having recovered nearly all last month's losses,
after Saudi Arabia was said to be pushing its fellow OPEC
members and some rivals to prolong supply cuts beyond June.

    However, heightened geopolitical tensions kept a lid on
gains, dampening an otherwise bright outlook for global economic
growth encouraging momentum in export-reliant Asia.
    North Korean state media warned of a nuclear attack on the
United States at any sign of American aggression, as a U.S. Navy
strike group steamed toward the western Pacific.

    Meanwhile, U.S. Secretary of State Rex Tillerson was in
Moscow to denounce Russian support for Syria's Bashar al-Assad,
raising the stakes in the Middle East.
    Thailand climbed to post its highest close since
Feb. 10, pulled up by energy stocks. PTT Pcl gained 0.8
percent, while Energy Absolute Pcl surged 3.8 percent.
    Malaysia was the biggest gainer in the region,
hitting a one-week closing high, with telecom stocks buoying the
    Telecom company Axiata Group Bhd ended 2.2 percent
    Singapore shares reversed early losses to post their
best closing in more than a week, boosted by financials, with
Oversea-Chinese Banking Corp gaining 1.2 percent.
    Meanwhile, Vietnam shares dropped 0.8 percent,
dragged by consumer stocks.
    "Minor movements suggest a very mixed view with some
investors happy to buy on dips as they expect a positive Q1
earnings season and good news on FOL (foreign ownership limit)
from some companies at the upcoming AGMs (annual general
meeting)," said Fiachra Mac Cana, head of research, Ho Chi Minh
    For Asian Companies click;  

  Market             Current        Prev close    Pct Move
  Singapore          3186.01        3174.75       0.35
  Bangkok            1589.5         1582.78       0.42
  Manila             7629.64        7601.4        0.37
  Jakarta            5644.155       5627.933      0.29
  Kuala Lumpur       1744.08        1735.84       0.47
  Ho Chi Minh        725.58         731.33        -0.79
  Change on year                                  
  Market             Current        End 2016      Pct Move
  Singapore          3186.01        2880.76       10.60
  Bangkok            1589.5         1542.94       3.02
  Manila             7629.64        6840.64       11.5
  Jakarta            5644.155       5296.711      6.56
  Kuala Lumpur       1744.08        1641.73       6.23
  Ho Chi Minh        725.58         664.87        9.1

 (Reporting by Krishna V Kurup in Bengaluru; Editing by Sherry
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