Southeast Asian stocks mostly lower

Southeast Asian stocks ended mostly lower on worries over the feasibility of the Greek deal and rising oil prices, while data showing a continuous contraction in China's factory sector kept investors cautious on Wednesday. Benchmarks in Singapore, Indonesia, Malaysia and Thailand ended lower, while those in the Philippines and Vietnam rose. Singapore closed 1 percent weaker from its eight-month high, while Indonesia, Malaysia, and Thailand edged down 0.2 percent each.
Both MSCI's broadest index of Asia Pacific shares outside Japan and the MSCI index for Southeast Asia, made up of selected stocks were flat. Bucking the trend, the Philippines gained 0.7 percent on expectations of improved earnings, analysts said. Vietnam's index jumped 1.8 percent.
Despite falls, Malaysia saw a $19.4 million inflow, while Jakarta witnessed a $5.4 million outflow. Singapore, the region's second best performer after Vietnam this year, fell on weakness in commodities. Wilmar International Ltd fell 10.9 percent, while Noble Group Ltd lost 4.4 percent on worries over shrinking margins. In Bangkok, the benchmark index fell, but volumes jumped on heavy trading in Thailand's seventh-largest lender TMB Bank Pcl. TMB rose 3 percent on a report that Industrial and Commercial Bank of China (ICBC) was keen to buy a stake in it from the Thai government.