October 31, 2016 / 10:22 AM / 2 years ago

SE Asia Stocks-Muted as oil falls; U.S. election, Fed hike worries dampen mood

By Geo  Tharappel
    Oct 31 (Reuters) - Southeast Asian stock markets ended
Monday flat as oil fell and uncertainty ahead of the U.S.
presidential election prevailed, while a better-than-expected
growth in the U.S. economy improved prospects of a Fed rate
    Federal investigators' new probe related to the email use of
Democratic presidential nominee Hillary Clinton shook markets'
conviction of her victory in the election. 
    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.
    "The third-quarter GDP growth should strengthen the case for
a U.S. rate hike by the Federal Reserve," Daewoo Securities
Indonesia's head of research Taye Shim said in a note.
    Vietnam fell the most in the region, ending 0.95
percent down, led by energy and financial stocks. 
    The index, which gained for eight consecutive months, ended
1.5 percent lower in October.
    "It's (FBI probe) not a story people here are paying much
attention to the way it stands.. I think oil prices were a major
factor.. and gas was sold off", said Fiachra Mac Cana, head of
research at Ho Chi Minh Securities in Vietnam.
    Index heavyweight Petrovietnam Gas Joint Stock Corp 
fell 2.9 percent and weighed the most on the index while insurer
BaoViet Holdings was down 4.5 percent. Both the stocks
were near their six-week lows. 
    Thailand ended flat as investors shrugged off data
showing a 3.5 percent rise in exports and an unexpected rise in
the factory output for the second straight month.
    The index has risen 0.8 percent this month compared to a
more than 4 percent fall in September.
    Gains in financials and industrials were offset by declines
in energy stocks and consumer staples.    
    Thailand's top energy firm PTT Pcl was the biggest
loser by index points while Bank of Ayudhya Pcl ended
1.4 percent higher.   
    Singapore stocks closed flat, with the index losing
close to 2 pct on the month.
    Malaysia and Indonesia gained more than 1 percent on the
    Philippines was closed today for a holiday.
For Asian Companies click;  

 Change on day                              
 Market           Current      prev close  Pct Move
 Singapore        2813.87      2816.26     -0.08
 Bangkok          1495.72      1494.44     0.09
 Jakarta          5422.542     5410.269    0.23
 Kuala Lumpur     1672.46      1670.27     0.13
 Ho Chi Minh      675.8        682.25      -0.95
 Change on year                             
 Market           Current      End 2015    Pct Move
 Singapore        2813.87      2882.73     -2.39
 Bangkok          1495.72      1288.02     16.13
 Jakarta          5422.542     4593.008    18.06
 Kuala Lumpur     1672.46      1692.51     -1.18
 Ho Chi Minh      675.8        579.03      16.71

 (Reporting by Geo Tharappel in Bengaluru; Additional Reporting
by Fransiska Nangoy; Editing by Vyas Mohan)
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