By Sindhu Chandrasekaran
Nov 30 Most Southeast Asian stock markets ended
higher on Wednesday in cautious trading ahead of a meeting of
the Organization of the Petroleum Exporting Countries (OPEC)to
cut oil production in an effort to prop up prices that have more
than halved since 2014.
Vietnam reversed early-session losses and ended 1.03
percent higher after losing for four straight sessions. Consumer
staples led the gains with Vietnam Dairy Products Joint Stock Co
ending 2.8 percent higher.
Oil prices recovered as much as 2 percent on Wednesday
following an Iraqi delegate statement that some form of deal
would be reached between OPEC members.
Singapore finished 0.9 percent higher extending gains
for the seventh session.
Financials led the gains on the index with Donald Trump's
election victory boosting expectations of quicker inflation in
the United States, just as the Federal Reserve appears poised to
tighten policy, helping improve interest margins for Singapore
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, DBS Group Holdings
ended 1.2 percent higher, United Overseas Bank Ltd
closed 1.4 percent higher and Oversea-Chinese Banking
Corp finished 0.7 percent higher.
Indonesia rose marginally, helped by financials with
PT Bank Rakyat Indonesia (Persero) ending 3.3 percent
Thailand closed 0.9 percent higher, with energy
financials stocks gaining the most.
Thailand's October imports rose 7.4 percent on year while,
exports fell 4.3 percent on year.
Also, Thailand's industrial output rose for a third straight
month in October, however the gain was much smaller than
expected, suggesting the recovery remains fragile.
Bucking the trend, Malaysia fell 0.5 percent.
The Philippine stock market was closed for a holiday.
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SOUTHEAST ASIAN STOCK MARKETS: Change on the day
Market Current previous Pct Move
Singapore 2904.02 2879.14 0.86
Bangkok 1510.24 1497.18 0.87
Jakarta 5148.91 5136.667 0.24
Kuala Lumpur 1619.12 1626.93 -0.48
Ho Chi Minh 665.07 658.26 1.03
Market Current End 2015 Pct Move
Singapore 2904.02 2882.73 0.74
Bangkok 1510.24 1288.02 17.25
Manila 6781.2 6952.08 -2.46
Jakarta 5148.91 4593.008 12.10
Kuala Lumpur 1619.12 1692.51 -4.34
Ho Chi Minh 665.07 579.03 14.86
(Reporting by Sindhu Chandrasekaran; Editing by)