By Sindhu Chandrasekaran
Nov 28 (Reuters) - Vietnam shares fell to a
three-week low on Monday led by consumer staples and
industrials, while the Philippine index fell on losses in
industrials and real estate shares.
A dip in oil prices on Monday on fears that producer
countries may fail to agree an output cut at their meeting on
Wednesday kept other markets subdued.
Brent crude futures fell as much as 2.0 percent in Asia on
top of their 3.6 percent decline on Friday.
Saudi Arabian energy minister Khalid al-Falih said on Sunday
that he believed the oil market would balance itself in 2017
even if producers did not intervene, and that keeping output at
current levels could therefore be justified.
Losses in the dollar index on Monday, that shed 0.62
percent to 100.86, adding to Friday's losses, further kept
investors on the sidelines.
"Investors are trying to buy dollars, especially if the
dollar is correcting itself. Probably they are shifting their
funds to the U.S. stock market," said Mikey Macainag, an analyst
with Manila-based Sunsecurities Inc.
"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."
Vietnam fell 1.5 percent, extending losses for a
third session, pulled down by a nearly 6 percent fall in
consumer cyclical company Faros Construction Corp.
Vietnam's November consumer price index released by the
government's General Statistics Office on Monday showed annual
inflation at 4.52 pct, up from 4.09 percent in October.
Philippine shares shed 0.8 percent, snapping three sessions
Indonesia eased 0.2 percent, led by industrials and
"We expect Jakarta Composite Index to form a technical
rebound today with an upward movement within today's support and
resistance level of 5100-5145," said Trimegah Securities in a
Bucking the trend, Singapore rose 0.8 percent,
extending gains for a fifth session with financials leading the
The city-state's three big banks gained. DBS Group Holdings
was up 1.5 percent, United Overseas Bank Ltd
rose 0.9 percent and Oversea-Chinese Banking Corp
gained 1.9 percent.
Malaysia and Thailand rose marginally.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Market at 0445GMT Current previous Pct Move
Singapore 2882.41 2859.33 0.81
Bangkok 1502.2 1500.4 0.12
Manila 6834.54 6889.78 -0.80
Jakarta 5113.079 5122.104 -0.18
Kuala Lumpur 1628.19 1627.26 0.06
Ho Chi Minh 665.63 675.87 -1.52
Change on year
Market Current End 2015 Pct Move
Singapore 2882.41 2882.73 -0.01
Bangkok 1502.2 1288.02 16.63
Manila 6834.54 6952.08 -1.69
Jakarta 5113.079 4593.008 11.32
Kuala Lumpur 1628.19 1692.51 -3.80
Ho Chi Minh 665.63 579.03 14.96
(Reporting by Sindhu Chandrasekaran; Editing by Sunil Nair)