SE Asia Stocks-Vietnam underperforms as energy stocks drag; others rangebound

Reuters
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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)

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