SE Asia Stocks-Largely up; Philippines snaps 3-day losing streak

By Suhail Hassan Bhat

Sept 28 (Reuters) - Most Southeast Asian stocks edged higher

on Wednesday, with the Philippine index gaining after three

sessions of losses while shares in Vietnam hit an

eight-and-a-half-year high.

Analysts said sentiment towards riskier assets improved

after data on Tuesday showed U.S. consumer confidence this month

hit its highest since 2007.

Philippine shares led other markets in the region,

driven by financials and industrials, with SM Prime Holdings

and JG Summit Holdings among the top

performers.

Vietnam shares rose for the eighth straight session

to record their longest streak of wins since March 2014, with

nearly every sector, including energy, ending in positive

territory.

Oil prices rose after sharp losses in the previous session,

as industry data showed a surprise draw in U.S. crude stocks,

although worries over a lack of agreement among producers to

curb output kept a lid on gains.

"The energy sector is still volatile as the oil oversupply

cut is yet to come," said Mikey Macainag, an analyst with

Manila-based Sunsecurities Inc.

Indonesian shares recouped early losses to post a

second session of gains, mainly driven by financial stocks.

Singapore shares were down 0.08 percent while

Malaysia closed flat.

Thailand posted a fourth straight session of

declines, with blue-chips Siam Commercial Bank,

Kasikornbank Pcl and Advanced Info Service

among the losers.

Asian shares spent much of the trading session in negative

territory, on investor concern about the state of the European

banking sector and oil prices.

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SOUTHEAST ASIAN STOCK MARKETS

STOCK MARKETS

Change on day

Market Current Previous Pct Move

Close

Singapore 2858.01 2860.23 -0.08

Bangkok 1479.58 1489.39 -0.66

Manila 7586.96 7557.34 0.39

Jakarta 5425.337 5419.604 0.11

Kuala Lumpur 1664.96 1664.72 0.01

Ho Chi Minh 686.72 684.89 0.27

Change so far

this year

Market Current End 2015 Pct Move

Singapore 2858.01 2882.73 -0.86

Bangkok 1479.58 1288.02 14.87

Manila 7586.96 6952.08 9.13

Jakarta 5425.337 4593.008 18.12

Kuala Lumpur 1664.96 1692.51 -1.63

Ho Chi Minh 686.72 579.03 18.60

(Reporting by Suhail Bhat; Editing by Sunil Nair)