November 30, 2016 / 5:21 AM / 2 years ago

SE Asia Stocks-Largely up in cautious trade ahead of OPEC meet

By Sindhu Chandrasekaran
    Nov 30 (Reuters) - Most Southeast Asian stock markets rose
on Wednesday in cautious trade ahead of a meeting of the
Organization of the Petroleum Exporting Countries (OPEC), with
members of the producer cartel trying to thrash out an output
cut to curb oversupply.
    The stock markets are reacting to the fall in oil prices and
the OPEC meeting that is due on Wednesday, said Harry Su, an
analyst with Bahana Securities in Indonesia, adding that the
group might not cut oil output.
    Key members Iran and Iraq are still at loggerheads with top
producer Saudi Arabia, making it hard for the OPEC to reach a
deal to limit output and boost crude prices. 
    Oil dropped nearly 4 percent on Tuesday over disputes
between Saudi Arabia, Iran and Iraq regarding details of the
planned cut.
    Among Southeast Asian markets, Singapore rose 0.8
percent, heading for a seventh straight session of gains,
supported by financials.
    Donald Trump's election victory has boosted expectations of
quicker inflation in the United States, just as the Federal
Reserve appears poised to tighten policy, helping improve
interest margins for Singapore banks. 
    Singapore's total bank lending in October rose with loans to
manufacturing and general commerce increasing, central bank data
showed on Wednesday. 
    The city-state's top three banks gained. DBS Group Holdings
 climbed 0.9 percent, United Overseas Bank Ltd
 rose 1.1 percent and Oversea-Chinese Banking Corp
 gained 0.8 percent.         
    Indonesia rose 0.7 percent, led by financials with
PT Bank Rakyat Indonesia (Persero) climbing 3.6
    Vietnam fell 0.4 percent, extending declines into a
fifth session, dragged down by real estate stocks. 
    Thailand was marginally higher, helped by
industrials and energy stocks. 
    Thailand's industrial output rose for a third straight month
in October, but the gain was much smaller than expected,
suggesting the recovery remains fragile. 
    The Philippine stock market was closed for a holiday.
For Asian Companies click; 

  Market          Current      previous    Pct Move
  Singapore       2901.38      2879.14     0.77
  Bangkok         1498.74      1497.18     0.10
  Jakarta         5173.494     5136.667    0.72
  Kuala Lumpur    1626.04      1626.93     -0.05
  Ho Chi Minh     655.46       658.26      -0.43
  Change so far                            
 this year                                 
  Market          Current      End 2015    Pct Move
  Singapore       2901.38      2882.73     0.65
  Bangkok         1498.74      1288.02     16.36
  Manila          6781.2       6952.08     -2.46
  Jakarta         5173.494     4593.008    12.64
  Kuala Lumpur    1626.04      1692.51     -3.93
  Ho Chi Minh     655.46       579.03      13.20
 (Reporting by Sindhu Chandrasekaran; Editing by Subhranshu
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