SE Asia Stocks-Up on oil price rally; Singapore hits near 3-wk high
By Suhail Hassan Bhat Sept 29 Southeast Asian stock markets rose on Thursday, in line with broader Asian shares, led by energy counters across the region as a rally in global oil prices after OPEC members struck a deal to curtail output aided sentiment. Oil futures extended gains after rising nearly 6 percent on Wednesday, as OPEC members agreed to limit production to a range of 32.5-33.0 million barrels per day (bpd) in talks held on the sidelines of an energy conference in Algeria. The surprise decision to cut output was the cartel's first such agreement since 2008. "It remains to... read more
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