SINGAPORE, Feb 2 — Most South-east Asian stock markets rose today with the Philippines heading for its first gain in four sessions, while Singapore slipped for a third day in four.

The Philippine Stock Exchange PSEI Index climbed as much as 0.6 per cent, boosted by financials and industrials, but was on track to end the week lower for the first time in nine weeks. It has shed over 3 per cent so far this week.

BDO Unibank Inc jumped as much as 1.6 per cent today, while JG Summit Holdings rose as much as 2 per cent.

Thai shares extended their rise in to a third session, adding as much as 0.5 percent, on the back of gains in energy stocks and were on track to post their tenth straight weekly rise. Index heavyweight PTT Pcl jumped over 2 per cent to a record high.

US oil rose for a third straight session after a survey showed strong compliance with output cuts by Opec and others including Russia, offsetting concerns about surging US production.

Indonesian shares climbed nearly 1 per cent, buoyed by financials with Bank Central Asia hitting a record high.

For the week, they were slightly down after three consecutive weeks of gains.

Singapore shares dropped as much as 0.7 per cent to a two-week low, dragged by financials.

Bankers United Overseas Bank shed 1.2 per cent, while Oversea-Chinese Banking Corp declined 1 per cent to a more than four-week low.

Singapore shares have shed 0.7 per cent so far this week, heading for their first weekly drop in six.

Malaysian shares resumed trading on a sombre note after two days of holidays.

Meanwhile, Asian shares stumbled as talk of policy tightening in Europe and expectations that inflation is set to gear higher drove up borrowing costs globally.

Investors now await the US nonfarm payrolls report for January, for clues on the strength of the labour market.

Nonfarm payrolls probably rose by 180,000 jobs in January after increasing 148,000 in December, according to a Reuters survey of economists. The unemployment rate is forecast to be unchanged at a 17-year low of 4.1 percent. — Reuters