Most Southeast Asian stock markets rose on Tuesday amid mixed fund flows and short-covering activities, but the Thai benchmark index extended losses for a sixth session due to extensive foreign selling. The Thai SET index ended the day 0.2 percent lower, taking the fall since November 24 to almost 3 percent. Foreign investors sold a net 5.6 billion baht ($156.42 million) in six successive sessions.
Weak global oil prices hit shares of the country's biggest oil and gas firm, PTT, while retailer CP All , which is among the stocks removed from MSCI's index in a semi annual review, earlier fell to a more than three-month low. Indonesia was an outperformer on the day after data released early on Tuesday showed the country's annual inflation rate eased significantly in November as the base for comparison was high due to an oil price hike a year earlier.
The Jakarta composite index jumped 2.5 percent, recouping the losses on Monday. Domestic investors bought shares while foreign investors sold a net 256 billion rupiah ($18.58 million), Thomson Reuters data showed. Stocks in the Philippines gained nearly 2 percent, while Malaysia ended a three-session losing streak. The Philippines and Malaysia saw net foreign buying of 609 million peso ($12.92 million) and 126 million ringgit ($29.79 million), respectively, stock exchange data showed. Singapore rebounded 0.5 percent, while Vietnam posted a fourth straight loss, with most bluechips losing ground following the country's downbeat Purchasing Managers' Index (PMI).
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