SE Asia Stocks-Philippines outperforms, most others rangebound

Nov 26 (Reuters) - Philippine stocks rose to two-month high

on Wednesday, outperforming other markets in the region as

investors waited for a raft of U.S. data and ahead of a crucial

OPEC meeting.

The Philippine stock index advanced 1 percent to its

highest since Sept. 25 with SM Investments and

Philippine Long Distance Telephone Co gaining 2.4

percent and 1 percent, respectively.

Analysts said investors waited for clues on the global

economy from U.S. data, including personal income and spending,

durable goods orders, and weekly jobless claims, due later in

the day.

Investors were also keeping a close watch on crude oil

prices after some major oil producers, including Saudi Arabia,

Russia, Mexico, and Venezuela, could not agree on a production

cut ahead of a meeting of the Organization of the Petroleum

Exporting Countries (OPEC) on Thursday. Crude futures hit a

four-year low.

The U.S. government upgraded its reading on third-quarter

gross domestic product to 3.9 percent on Tuesday from 3.5

percent reported last month. Economists polled by Reuters had

expected growth would be cut to 3.3 percent.

The Jakarta Composite Index was up 0.15 percent,

while the Singapore index was steady. The Malaysian

stock index traded 0.2 percent firmer, heading for a

third straight session of gains.

Bucking the trend, the Thai index was down 0.13

percent and Vietnam was lower 1.7 percent.

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SOUTHEAST ASIAN STOCK MARKETS

Change at 0810 GMT

Market Current Prev Close Pct Move

Singapore 3344.16 3344.99 -0.02

Kuala Lumpur 1840.63 1838.56 +0.11

Bangkok 1594.67 1596.80 -0.13

Jakarta 5126.44 5118.95 +0.15

Manila 7356.59 7286.85 +0.96

Ho Chi Minh 576.04 585.91 -1.68

(Reporting by Shihar Aneez; Editing by Subhranshu Sahu)