SE Asia Stocks-Vietnam underperforms as energy stocks drag; others rangebound
Nov 26 (Reuters) - Vietnam's benchmark VN Index
dropped 1.7 percent on Wednesday to a five-month closing low,
dragged lower by the oil and gas sector on a sharp drop in
global oil prices.
The meeting between Saudi Arabia and Venezuela with non-OPEC
oil producers Russia and Mexico on Tuesday resulted in no deal
to curb output against a 30 percent slump in prices since June,
dragging Brent down before it rebounded on Wednesday on comments
by Saudi Arabia's oil minister that the oil market would
stabilise.
Analysts said investors waited for clues about the global
economy from U.S. data, including personal income and spending,
durable goods orders, and weekly jobless claims, due later in
the day.
Shares of PetroVietNam Gas, Vietnam's biggest firm
by market value, fell 4.6 percent to a six-month low, while
Petrovietnam Drilling and Well Services Corp lost 3.5
percent.
The Jakarta Composite Index closed 0.3 percent
firmer, the Singapore index ended up 0.1 percent, and
the Malaysian stock index finished 0.2 percent higher
for a third straight winning session.
Philippine stocks outperformed the region, rising 1
percent to its highest since Sept. 25 on Wednesday with SM
Investments and Philippine Long Distance Telephone Co
gaining 2.4 percent and 1 percent, respectively.
The Thai index ended down 0.4 percent.
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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
Singapore 3349.66 3344.99 +0.14
Kuala Lumpur 1842.17 1838.56 +0.20
Bangkok 1591.00 1596.80 -0.36
Jakarta 5133.04 5118.95 +0.28
Manila 7356.59 7286.85 +0.96
Ho Chi Minh 576.04 585.91 -1.68
Change on year
Market Current End 2013 Pct Move
Singapore 3349.66 3167.43 +5.75
Kuala Lumpur 1842.17 1866.96 -1.33
Bangkok 1591.00 1298.71 +22.51
Jakarta 5133.04 4274.18 +20.09
Manila 7356.59 5889.83 +24.90
Ho Chi Minh 576.04 504.63 +11.15
(Reporting by Shihar Aneez in COLOMBO and Mai Nguyen in HANOI;
Editing by Biju Dwarakanath)