Oil prices extended gains in Asia on Thursday, boosting stock markets, after OPEC members agreed to curb output in a surprise deal, though investors were wary of chasing markets higher as the U.S. presidential election nears. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.8 percent by mid-morning, thanks to a bounce in energy shares, but other markets such as Hong Kong were starting to cede some of their initial gains. "Despite the favorable oil deal, foreign institutional investors are sticking to their favorite counters before the U.S. elections results as there is simply too much market uncertainty," said Andrew Sullivan, managing director, sales trading at Haitong International Securities Group in Hong Kong.
