November 22, 2016 / 5:06 AM / 2 years ago

SE Asia Stocks-Rise on oil rally; Philippines down more than 1 pct

By Sindhu Chandrasekaran
    Nov 22 (Reuters) - Most Southeast Asian stock markets rose
in line with Asian peers, buoyed by gains in energy shares as
global oil prices surged overnight and in early Asian trade on
     Oil extended gains on Tuesday, bolstered by growing
conviction that major oil producing countries would agree next
week to limit output.  
    OPEC members are due to agree on a world oil freeze pact at
a meeting in Vienna. 
    The jump in oil prices is an indication of improvement in
the world economy, which has improved sentiment in the regional
markets, said Manny Cruz, an analyst with Manila-based Asiasec
Equities Inc. 
    Singapore's FTSE Straits Times Index rose, led by
consumer services and oil and gas. Offshore oil-rig builder
Keppel Corporation gained 1.7 percent.
    Thailand stocks were up 0.5 percent, on track for a
third straight session of gains, led by energy stocks. Oil major
PTT Pcl rose 1.2 percent.
    Vietnam rose to the highest in more than a week, with
utilities leading the gainers. Oil and gas refiner Petrovietnam
Gas Joint Stock Corporation climbed 2.4 percent.
    In next week's OPEC meeting, we might see a happy ending for
the year, at least in terms of the oil market, said Victor
Felix, equity analyst at Manila-based AB Capital Securities.
    Philippine stocks however slid 1.5 percent, the
lowest in a week, led by industrials. Ayala Corp fell
3.3 percent. 
   "It has to do with the selling pressure from foreign
investors. The market has already fully digested the Q3
corporate earnings and GDP data," Felix said. "So, investors
right now are in more of a wait-and-see mood."
    The Philippine economy grew at its fastest pace in more than
three years in July-September. 
    Malaysia rose 0.2 percent, while Indonesia 
gained marginally.
    In Asia, MSCI's broadest index of Asia-Pacific shares
outside Japan was up 1.3 percent.
For Asian Companies click;  

  STOCK MARKETS                                           
  Change at 0428 GMT                                      
  Market              Current       Prev close   Pct Move
  Singapore           2830.97       2816.67      0.51
  Bangkok             1485.96       1478.3       0.52
  Manila              6879.01       6979.06      -1.43
  Jakarta             5158.528      5148.319     0.20
  Kuala Lumpur        1630.84       1627.28      0.22
  Ho Chi Minh         677.73        674.29       0.51
  Change on year                                 
  Market              Current       End 2015     Pct Move
  Singapore           2830.97       2882.73      -1.80
  Bangkok             1485.96       1288.02      15.37
  Manila              6879.01       6952.08      -1.05
  Jakarta             5158.528      4593.008     12.31
  Kuala Lumpur        1630.84       1692.51      -3.64
  Ho Chi Minh         677.73        579.03       17.05

 (Reporting by Sindhu Chandrasekaran; Editing by Biju
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below