November 16, 2016 / 10:32 AM / 2 years ago

SE Asia Stocks-Indonesia, Philippines gain; Singapore falls in choppy trade

By Sindhu Chandrasekaran
    Nov 16 (Reuters) - Indonesian and Philippine stocks rose on
Wednesday, snapping three sessions of losses, while Singapore
pared early gains to close marginally lower. 
    Energy shares, boosted by an overnight rally in oil prices,
led gains in three of the six markets in Southeast Asia.
    Oil prices jumped 6 percent on Tuesday on renewed
expectations that OPEC will agree later this month to reduce a
global supply glut, but gave up some of the gains in Wednesday's
    Investors are awaiting U.S. Federal Reserve Chair Janet
Yellen's remarks before the Congressional Joint Economic
Committee on Thursday that could give a hint of how hard and how
quickly Republicans may try to overhaul the Fed's powers after
Donald Trump's presidential victory. 
    The outcome of the election may have set off a few tremors
in markets but the Fed is on course to raise interest rates next
month, a Reuters poll of economists showed. 
    "All eyes will be on Yellen speech on Nov. 17", Taye Shim,
an analyst with Daewoo Securities in Indonesia said in a note. 
    Indonesian stocks closed 2.1 percent higher, posting
their biggest intraday percentage gain since Sept. 15, led by
energy and utility shares. 
    Indonesian oil and gas producer PT Medco Energi
Internasional Tbk, ended 4 percent higher and was
among the top gainers in the energy sector.
    Philippine stocks closed 1.6 percent higher, led by
financials, with SM Prime Holdings Inc gaining 3.9
    The Philippines' September remittances was at $2.38 billion,
up 6.7 pct year-on-year, a rise that is helping Philippine
markets, said April Lee-Tan at COL Financial Group Inc.
    Reversing earlier gains, Thailand and Singapore
 closed marginally lower.
For Asian Companies click;  

  Market          Current      previous    Pct Move
  Singapore       2793.99      2797.55     -0.13
  Bangkok         1474.64      1476.46     -0.12
  Manila          6966.28      6857.15     1.59
  Jakarta         5185.465     5078.501    2.11
  Kuala Lumpur    1627.63      1630.56     -0.18
 Ho Chi Minh      674.6        674.26      0.05
  Change on year                           
  Market          Current      End 2015    Pct Move
  Singapore       2793.99      2882.73     -3.08
  Bangkok         1474.64      1288.02     14.49
  Manila          6966.28      6952.08     0.20
  Jakarta         5185.465     4593.008    12.90
  Kuala Lumpur    1627.63      1692.51     -3.83
 Ho Chi Minh      674.6        579.03      16.51

 (Reporting by Sindhu Chandrasekaran; Editing by Amrutha
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