|Published : 30 Nov 2016, 12:58:08|
SE Asian stocks rise in cautious trade
Most Southeast Asian stock markets rose on Wednesday in cautious trade ahead of the OPEC meeting, with members of the producer cartel trying to thrash out an output cut to curb oversupply.
Oil dropped nearly 4.0 per cent on Tuesday over disputes between Saudi Arabia, Iran and Iraq regarding details of the planned cut.
Among Southeast Asian markets, Singapore rose 0.8 per cent, heading for a seventh straight session of gains, supported by financials.
Singapore's total bank lending in October rose with loans to manufacturing and general commerce increasing, central bank data showed on Wednesday.
Indonesia rose 0.7 per cent, led by financials with PT Bank Rakyat Indonesia (Persero) climbing 3.6 per cent.
Vietnam fell 0.4 per cent, extending declines into a fifth session, dragged down by real estate stocks.
Thailand was marginally higher, helped by industrials and energy stocks.
In Bangladesh, the prices of the most of shares on both bourses saw upward trend in early hour of trading on Wednesday as enthusiastic investors remained active on sector-specific stocks.
After 30 minutes of trading, DSEX advanced 9.30 points while the Selective Category Index of port city bourse CSCX rose 14.59 points.
The Philippine stock market was closed for a holiday, according to a news agency report.