(Nov 30): Most Southeast Asian stock markets ended higher on Wednesday in cautious trading, ahead of a meeting of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production in an effort to prop up prices that have more than halved since 2014.
Vietnam reversed early-session losses and ended 1.03% higher, after losing for four straight sessions. Consumer staples led the gains with Vietnam Dairy Products Joint Stock Co ending 2.8% higher.
Oil prices recovered as much as 2% on Wednesday, following an Iraqi delegate statement that some form of deal would be reached between OPEC members.
Singapore finished 0.9% higher extending gains for the seventh session.
Financials led the gains on the index with Donald Trump's election victory boosting expectations of quicker inflation in the United States, just as the Federal Reserve appears poised to tighten policy, helping improve interest margins for Singapore banks.
Singapore's total bank lending in October rose with loans to manufacturing and general commerce increasing, central bank data showed on Wednesday.
The city-state's top three banks, DBS Group Holdings ended 1.2% higher, United Overseas Bank Ltd closed 1.4% higher and Oversea-Chinese Banking Corp finished 0.7% higher.
Indonesia rose marginally, helped by financials with PT Bank Rakyat Indonesia (Persero) ending 3.3% higher.
Thailand closed 0.9% higher, with energy financials stocks gaining the most.
Thailand's October imports rose 7.4% on year while, exports fell 4.3% on year.
Also, Thailand's industrial output rose for a third straight month in October, however the gain was much smaller than expected, suggesting the recovery remains fragile.
Bucking the trend, Malaysia fell 0.5%. The Philippine stock market was closed for a holiday.
SOUTHEAST ASIAN STOCK MARKETS:
Change on the day
|Market||Current||previous close||Pct Move|
|Ho Chi Minh||665.07||658.26||1.03|
Change this year
|Market||Current||End 2015||Pct Move|
|Ho Chi Minh||665.07||579.03||14.86|