By Suhail Hassan Bhat
Sept 29 Southeast Asian stock markets advanced
on Thursday, tracking Asian shares, with Indonesia posting a
third straight session of gains, as a rally in oil prices
boosted energy stocks across the region.
Oil futures extended gains after rising nearly 6 percent on
Wednesday, as OPEC members agreed to limit production to a range
of 32.5 million barrels to 33 million barrels per day during
talks held on the sidelines of an energy conference.
"It remains to be seen whether such a cut is followed by all
members and whether Russia would follow with a cut of its own,"
Trimegah Securities said in a note.
"But it would still serve as a positive sentiment, at least
for the short-term."
Indonesian shares ended up 0.12 percent, after
hitting a near two-month high earlier in the day, with United
Tractors Tbk PT and Adaro Energy Tbk PT
being among the top performers.
Indonesia's central bank is intervening in money markets to
provide liquidity after many banking clients withdrew money to
pay for tax amnesty fees, the central bank governor Agus
Vietnam shares hit an eight-and-a-half-year high,
recording its longest winning streak of nine sessions since
March 2014. Index heavyweight Petrovietnam Gas Joint Stock Corp
rose 4.57 percent in heavy trading.
Philippine shares led the region, and posted their
second straight session of gains, with oil conglomerate Petron
Corp climbing 3.9 percent.
Singapore shares edged up to post a three-week high.
While the benchmark oil and gas index rose nearly
4 percent, Sembcorp Industries Ltd and Keppel Corp Ltd
were the top gainers on the index.
Malaysian shares climbed 0.28 percent with the
country's biggest oil and gas services company SapuraKencana
Petroleum pulling up the index, while Thailand
snapped four sessions of losses.
MSCI's broadest index of Asia-Pacific shares outside Japan
was up 0.7 percent.
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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Previous Pct Move
Singapore 2885.71 2858.01 0.97
Bangkok 1491.43 1479.58 0.80
Manila 7714.86 7586.96 1.69
Jakarta 5431.957 5425.337 0.12
Kuala Lumpur 1669.64 1664.96 0.28
Ho Chi Minh 688.55 686.72 0.27
Change so far
Market Current End 2015 Pct Move
Singapore 2885.71 2882.73 0.10
Bangkok 1491.43 1288.02 15.79
Manila 7714.86 6952.08 10.97
Jakarta 5431.957 4593.008 18.27
Kuala Lumpur 1669.64 1692.51 -1.35
Ho Chi Minh 688.55 579.03 18.91
(Reporting by Suhail Bhat; Editing by Sherry Jacob-Phillips)