By Sindhu Chandrasekaran
Nov 28 (Reuters) - Vietnam stocks ended 1.6 percent
lower on Monday, hurt by consumer staples and financials on
foreign selling while other Southeast Asian markets were largely
subdued as weaker oil prices weighed.
"We have seen persistent foreign selling in index (stocks)
in recent days. This is starting to affect the domestic
sentiment," said Fiachra Mac Cana managing director and head of
research at Ho Chi Minh Securities.
Faros Construction, which was down as much as 7
percent intraday recovered to end 0.8 percent higher.
Philippines the second biggest loser in the region,
closed 0.9 percent lower, snapping three sessions of gains.
Industrials were among the top losers with conglomerate SM
Investments Corp ending 2.3 percent lower.
Oil prices, which slipped on Monday on fears that producer
countries may fail to agree an output cut at their meeting on
Wednesday also kept markets subdued.
"The fall in oil prices will have an impact on oil exporters
like Indonesia and Malaysia. Oil is probably why the Southeast
Asian markets are not doing well today," said Mikey Macainag, an
analyst with Manila-based Sunsecurities Inc.
The Organization of the Petroleum Exporting Countries (OPEC)
will meet in Vienna on Wednesday to decide on the details of a
Indonesia finished 0.2 percent lower, dragged down
by industrials and financials.
Singapore bucked the trend to end 0.5 percent higher,
extending gains for a fifth session with financials
outperforming the broader market.
The city-state's three big banks, DBS Group Holdings
ended 1.8 percent higher while Oversea-Chinese Banking
Corp gained 1.6 percent and United Overseas Bank Ltd
finished 0.8 percent firmer.
Malaysia and Thailand were flat.
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SOUTHEAST ASIAN STOCK MARKETS: Change on day
Market Current previous Pct Move
Singapore 2874.65 2859.33 0.54
Bangkok 1500.78 1500.40 0.03
Manila 6825.4 6889.78 -0.93
Jakarta 5114.572 5122.104 -0.15
Kuala Lumpur 1628.66 1627.26 0.09
Ho Chi Minh 665.29 675.87 -1.57
Change on year
Market Current End 2015 Pct Move
Singapore 2874.65 2882.73 -0.28
Bangkok 1500.78 1288.02 16.52
Manila 6825.4 6952.08 -1.82
Jakarta 5114.572 4593.008 11.36
Kuala Lumpur 1628.66 1692.51 -3.77
Ho Chi Minh 665.29 579.03 14.90
(Reporting by Sindhu Chandrasekaran; Editing by Vyas Mohan)