SE Asia Stocks-Tread water as Saudi tensions weigh

By Chandini Monnappa

Oct 16 (Reuters) - Southeast Asian stock markets trod water

on Tuesday amid mounting tensions between Saudi Arabia and the

West over the disappearance of a Saudi journalist critical of

Riyadh.

Oil prices edging higher on concerns over U.S.-Saudi Arabia

tensions also weighed on investor sentiment.

Philippine shares erased early losses to trade

slightly higher, helped by food, beverage and tobacco stocks.

Lender BDO Unibank Inc gained 1.8 percent, while

beverage and food maker Universal Robina Corp rose 2.6

percent.

"Prices are attractive, the market could take this as an

opportunity to buy," said Fio Dejesus, an equity research

analyst with RCBC securities.

"The decline in the market is huge year-to-date, so some

players might be thinking that the headwinds are already braced

in. It remains to be seen whether the market will close in the

green."

Philippine shares had shed nearly 19 percent this year as of

last close, making them the worst performing market in the

region.

Indonesian shares rose as much as 0.4 percent with

gains seen across sectors except financials and real estate.

Document management services provider Multifiling Mitra

Indonesia surged 15.58 percent, while financing

company Trust Finance Indonesia jumped 12.82 percent.

Malaysian shares were little changed, while Vietnam

stocks climbed up to 0.7 percent.

Thai shares slipped on resumption of trade after a

long weekend, with all sectors in negative territory except

healthcare.

Property developer Central Pattana Pcl was the top

drag on the index with a drop of 2.56 percent.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS AT 0354 GMT

Market Current Previous close Pct Move

Singapore 3034.64 3045.97 -0.37

Bangkok 1692.32 1696.16 -0.23

Manila 6930.33 6926.51 0.06

Jakarta 5732.294 5727.256 0.09

Kuala Lumpur 1729.06 1728.74 0.02

Ho Chi Minh 957.11 951.64 0.57

Change on year

Market Current End prev yr Pct Move

Singapore 3034.64 3402.92 -10.82

Bangkok 1692.32 1753.71 -3.50

Manila 6930.33 8,558.42 -19.02

Jakarta 5732.294 6,355.65 -9.81

Kuala Lumpur 1729.06 1796.81 -3.77

Ho Chi Minh 957.11 984.24 -2.76

(Reporting by Chandini Monnappa; Editing by Subhranshu Sahu)