SE Asian stocks mostly lower

Dhaka,  Fri,  09 December 2016
Published : 29 Nov 2016, 14:53:28

SE Asian stocks mostly lower

SE Asian stocks mostly lower
Southeast Asian stock markets mostly lower on Tuesday after Wall Street suffered its worst performance in nearly a month.

The markets were fall as some investors booked profits in financial and consumer discretionary sectors.

MSCI's broadest index of Asia-Pacific shares outside Japan barely budged after two days of gains.

Sentiment was also affected by doubts that the OPEC will be able to hammer out a meaningful output cut during a meeting on Wednesday aimed at controlling a global supply overhang and lifting prices.

Vietnam slid nearly 1.0 per cent, extending losses into a fourth straight session. Financials and industrials were the biggest drag on the index.

Philippine stocks were headed for their second straight day of declines, with telecom stocks such as PLDT Inc and Globe Telecom accounting for nearly half the losses on the index.

Indonesia recovered from previous session's losses to climb 0.8 per cent, driven by financials and consumer stocks.

Thailand edged higher on the back of gains in energy and telecom stocks, according to a news agency report.

-SRS-
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