Southeast Asian stock markets ended mixed on Monday, with the Philippine main index hitting a more than seven-month high amid continuing inflows, while a late rally in telecoms shares sent the Thai benchmark to a one-week closing high. The Philippine composite index was up 0.95 percent at 7,376.41, its highest close since August 14, 2015. The overall stock market saw net foreign investor buying for an eighth straight day worth 1.1 billion peso ($23.73 million), stock exchange data showed.
Thai SET index finished up 0.8 percent at a one-week closing high of 1,393.63. Telecoms shares were the most actively traded, with Advanced Info Service up 3.5 percent and Jasmine International 2.8 percent higher. The Thai telecoms regulator said Jasmine has failed to meet a deadline on Monday to make the initial payment on a $2.1 billion bid for a 4G spectrum licence it won in an auction in December.
Stocks in Singapore slipped 0.9 percent, its first loss in four days, as investors awaited the city-state's 2016 budget announcement, expected on Thursday. Vietnam fell for a second day to a near two-week low. Malaysia and Indonesia ended little changed in line with Asia as a retreat in oil prices made investors cautious. Vietnam's benchmark VN Index closed 0.62 percent lower on Monday as lack of supportive news during the current parliament session prevented the market from breaking a strong resistance level of 580 points, analysts and traders said.
Nearly half of the shares lost ground, led by dairy product maker Vinamilk, Vietnam's top firm by market value, and PetroVietnam Gas with a fall of 2.17 percent and 2.6 percent, respectively. Vietcombank rose as much as 3.3 percent to its highest level since January 4, after its officials said the bank plans to issue new shares to foreign investors, equivalent to 10 percent of existing stock and worth an estimated $510 million. It closed 0.94 percent higher.
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