Asean markets subdued as Opec+ deal fails to lift sentiment

SINGAPORE: Most Southeast Asian stock markets were subdued on Monday, as an agreement by OPEC and its allies to slash oil output did little to calm investors plagued by the incessant spread of the new coronavirus, while Philippine shares rose on hopes of policy easing.

The Organization of the Petroleum Exporting Countries and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the pandemic.