Most Southeast Asian markets eased on Friday in thin trading volumes as Spain borrowing cost weighed on investor sentiment, but Malaysia and Indonesia saw foreign inflow into equity despite falls. Malaysia, despite edging down 0.1 percent, enjoyed a foreign inflow of $72.55 million, while Indonesia saw $6.56 million net foreign buying, though the stock market fell 0.4 percent.
Optimism over strong corporate earnings in the previous day evaporated due to renewed fears over Spain's borrowing costs, which hovered around their seven percent pain threshold on Friday, despite the expected approval of its bank bailout plan later in the day.
Singapore shares fell 0.4 percent from a one-year closing high, snapping five consecutive sessions of gains, while Thailand also fell 0.4 percent led by energy and banking shares. Bucking the trend, the Philippines gained 0.4 percent after falling in the previous three sessions.
Comments
Comments are closed.