SET slips, other SE Asia stock markets rise

SET slips, other SE Asia stock markets rise

The Thai stock market eases 0.32% to end the day at 1,733.05 points. (Bangkok Post photo)
The Thai stock market eases 0.32% to end the day at 1,733.05 points. (Bangkok Post photo)

The Stock Exchange of Thailand index closed lower on Thursday, while other Southeast Asian stock markets ended higher on Thursday, with the Philippines surging to its highest close in three weeks.

The SET main index lost 5.65 points or 0.32% to close at 1,733.05, in trade worth 50.96 billion baht.

MSCI's broadest index of Asia-Pacific shares outside Japan rose as much as 0.6% in its sixth straight gaining session to a two-and-a-half-month high.

Philippine shares closed 1.5% higher, as BDO Unibank, the biggest Philippine bank in terms of market capitalisation, surged 5% in its third consecutive winning session.

"Financials experienced heavy sell-off during past five months," said Rachelle Cruz, an analyst from AP Securities in Philippines.

"Higher rates and elevated inflation will allow the banks to improve in terms of their net interest margin, so its more about an expectation of a better bottom line for the banks."

The country's annual inflation quickened in May at the fastest pace in at least five years, data showed on Tuesday.

Malaysian shares rose 0.5% to their highest close in two weeks. Financial stocks such as CIMB Group Holdings and Malayan Banking were the biggest boosts on the index.

Indonesian stocks rose 0.6% to their highest  in over six weeks.

Lender Bank Negara Indonesia rose 2.4%, while cigarette manufacturer Gudang Garam climbed 2.7%.

The index of Indonesia's 45 most liquid stocks rose 0.7%.

Vietnam shares gained 0.2% to close higher for a sixth straight session.

Techcombank, which made its stock market debut on Monday, was the biggest boost on the index, gaining as much as 7% in the session.

Singapore recovered after the previous day's losses, buoyed mostly by financials and real estate shares.

Lender United Overseas Bank rose 0.8%, while property management firm Hongkong Land Holdings rose 1.8%.

Southeast Asian stock markets

 

 

Current

Previous

% change

Thailand

1,733.05

1,738.70

-0.32

Indonesia                

6,106.69

6,069.71

+0.61

Malaysia                

1,785.81

1,777.13

+0.49

Philippines

7,803.31

7,689.14

+1.48

Singapore                 

3,473.08

3,467.81

+0.15

Vietnam       

1,036.69

1,034.50

+0.21

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