October 31, 2016 / 5:46 AM / 2 years ago

SE Asia Stocks-Oil weighs; U.S. election, Fed hike uncertainty dampen sentiment

By Geo  Tharappel
    Oct 31 (Reuters) - Southeast Asian stock markets were
subdued on Monday as oil prices fell and uncertainty prevailed
ahead of the U.S. presidential election, while a
better-than-expected third-quarter growth in U.S. economy
improved the possibility of an interest rate hike.
    Federal investigators' new probe related to the email use of
Democratic presidential nominee Hillary Clinton shook markets'
conviction of her victory in the election, as investors tend to
see Clinton as the candidate of the status quo. 
    Oil prices continued to fall on Monday after non-OPEC
producers made no specific commitment to join OPEC in limiting
oil output levels to prop up prices. 
    The U.S. economy grew 2.9 percent in the third quarter, its
fastest pace in two years, beating economists' expectations.
    Weak market trends are expected to unfold today, said Taye
Shim, an analyst with Jakarta-based Daewoo Securities, in a
    The third-quarter GDP growth should strengthen the case for
a U.S. rate hike by the Federal Reserve, said Shim, adding that
the fall in oil prices and FBI's investigation into Clinton's
emails should negatively impact the market.
    Thailand was flat as investors shrugged off data
showing unexpected rise in the factory output for the second
straight month. 
    Gains in financials and industrials were offset by declines
in energy and consumer discretionary stocks.
    Kasikornbank PCL was up more than 0.5 percent
while Thailand's top energy firm PTT Pcl fell as much
as 1.4 percent to its lowest in nearly three weeks.    
    Thailand's balance of trade numbers are expected later in
the day. 
    Singapore stocks were lower, dragged down by
financials and consumer discretionary stocks.
    Investment holding company Comfortdelgro Corp Ltd 
fell as much as 5.8 pct to its lowest in two years.  
    Oversea-Chinese Banking Corp extended losses for a
second session to fall more than 1 percent to a two-week low.   
    Philippines is closed today for a holiday.
For Asian Companies click;  

 Change at 0430GMT                                       
  Market             Current       Prev close   Pct Move
  Singapore          2809.86       2816.26      -0.23
  Bangkok            1494.88       1494.44      0.03
  Jakarta            5416.317      5410.269     0.11
  Kuala Lumpur       1672.32       1670.27      0.12
  Ho Chi Minh        679.88        682.25       -0.35
  Change on year                                
  Market             Current       End 2015     Pct Move
  Singapore          2809.86       2882.73      -2.53
  Bangkok            1494.88       1288.02      16.06
  Jakarta            5416.317      4593.008     17.93
  Kuala Lumpur       1672.32       1692.51      -1.19
  Ho Chi Minh        679.88        579.03       17.42

 (Reporting by Geo Tharappel in Bengaluru; Additional Reporting
by Fransiska Nangoy; Editing by Amrutha Gayathri)
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