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SE Asia Stocks-Largely firm; Thailand, Indonesia extend gains
October 25, 2017 / 4:38 AM / a month ago

SE Asia Stocks-Largely firm; Thailand, Indonesia extend gains

    By Devika Syamnath
    Oct 25 (Reuters) - Southeast Asian stock markets were
largely firm on Wednesday as investors took heart from the Dow
scaling a record closing high  and as oil prices spiked
overnight after top exporter Saudi Arabia said it was determined
to end a supply glut.
    The Dow Jones Industrial Average rallied on Tuesday,
registering its biggest daily percentage gain in more than a
month, as stronger-than-expected results and forecasts from
companies including 3M and Caterpillar fuelled optimism about
economic strength.
    Oil prices on Wednesday hovered near a four-week high hit a
day earlier after Saudi Arabia's energy minister said the focus
remained on reducing oil stocks in industrialised countries to
their five-year average and raised the prospect of prolonged
output restraint once an OPEC-led supply-cutting pact ends.

    The Organization of the Petroleum Exporting Countries, plus
Russia and nine other producers, have cut oil output by about
1.8 million barrels per day (bpd) since January. The pact runs
to March 2018, but they are considering extending it. 
    Thai shares extended gains into a third session,
buoyed by industrial, energy and financial stocks.
    Oil and gas company PTT PCL led the gains with a
rise of up to 1.5 percent, while real estate developer U City
PCL gained as much as 50 percent.
    Indonesian shares hit an all-time high and were
headed for a fourth straight session of gains, driven by energy
and financial stocks.
    Mining contractor United Tractors Tbk PT was the
biggest boost, jumping as much as 8.4 percent, while coal miner
Bayan Resources Tbk PT surged 20 percent. 
    An index of the country's 45 most liquid stocks
jumped up to 0.5 percent.
    The International Energy Agency said on Tuesday Southeast
Asia's overall energy demand is expected to climb nearly 60
percent by 2040 from now and that the region is expected to
install more than 565 gigawatts (GW) of power-generation
capacity in that period.          
    
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AT 0352 GMT    
  Market           Current       Previous     Pct Move
                                 close        
  Singapore        3336.76       3334.67      0.06
  Bangkok          1708.99       1701.81      0.42
  Manila           8258.81       8279.92      -0.25
  Jakarta          5977.319      5952.076     0.42
  Kuala Lumpur     1734.56       1736.14      -0.09
  Ho Chi Minh      828.67        825.24       0.42
                                              
  Change on year                              
  Market           Current       End 2016     Pct Move
  Singapore        3336.76       2880.76      15.83
  Bangkok          1708.99       1542.94      10.76
  Manila           8258.81       6840.64      20.73
  Jakarta          5977.319      5296.711     12.85
  Kuala Lumpur     1734.56       1641.73      5.65
  Ho Chi Minh      828.67        664.87       24.64
 
 (Reporting by Devika Syamnath; Editing by Subhranshu Sahu)
  

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