SET ends above 1,800, other SE Asia stocks close mixed

SET ends above 1,800, other SE Asia stocks close mixed

The Stock Exchange of Thailand main index increases 6.34 points to close at 1,801.28 on Friday. (Reuters file photo)
The Stock Exchange of Thailand main index increases 6.34 points to close at 1,801.28 on Friday. (Reuters file photo)

The Stock Exchange of Thailand slightly increased, while other Southeast Asain shares closed mixed on Friday.

MSCI's broadest index of Asia-Pacific shares outside Japan slumped 1.2% after the world's largest contract chipmaker, Taiwan Semiconductor Manufacturing Co, forecast softer demand for smartphones.

The SET main index gained 6.34 points or 0.35% to close at 1,801.28, in trade worth 71.33 billion baht.

Singapore shares took a hit after shares of tech service provider Venture Corp Ltd plunged over 12% to their lowest in eight weeks.

Comments from TSMC and weaker-than-expected results from cigarette giant Philip Morris International Inc weighed on Venture, said Joel Ng, a research analyst at KGI Securities in Singapore.

"Philip Morris is a key client, Venture makes e-cigarettes for Philip Morris," he added.

Despite Friday's losses, the index posted a fourth consecutive week of gains.

Indonesian shares edged down 0.3%, as consumer staple stocks weighed on the index.

On Thursday, Indonesia's central bank kept its key interest rate unchanged, tying the decision to a need to maintain stability.

Malaysian stocks slipped 0.4%, following a record closing high in the previous session.

DiGi.Com Bhd and Genting Bhd weighed on the index, falling 2.6% and 2.1%, respectively.

Meanwhile, Vietnamese shares ended up 2.3%, but closed 3.2% lower for the week.

Index heavyweights led the gains, with Joint Stock Commercial Bank for Foreign Trade of Viet Nam and Petrovietnam Gas Joint Stock Corp soaring 4.9% and 3.6% respectively.

Philippine shares edged up on Friday, ending yet another rough week, and posting an eighth weekly loss in nine.

"One of the things we can definitely say is that the market has been very volatile lately. So this (today's gain) is just a manifestation of that volatility," said April Lee-Tan, head of research at COL Financial.

Despite worries over rising inflation, which fuelled heavy foreign selling on Thursday, Philippine Central Bank Governor Nestor Espenilla said the monetary authority is satisfied with its current policy actions.

Southeast Asian stock markets

 

 

Current

Previous

% change

Thailand

1,801.28

1,794.94

+0.35

Indonesia                

6,337.69

6,355.90

-0.29

Malaysia                

1,887.75

1,895.18

-0.39

Philippines

7,726.72

7,682.24

+0.58

Singapore                 

3,573.38

3,598.73

-0.70

Vietnam       

1,119.86

1,094.63

+2.30

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