Indonesian stocks set a record high for a fifth straight session on Friday led by large caps such as PT Telekomunikasi Indonesia while others ended mixed as a revival in worries about global economic growth weighed on broader Asia. Jakarta's Composite Index ended up 0.5 percent at 4,609.79, rising 2.6 percent on the week, making it Southeast Asia's best performer.
The market received $155 million of net foreign inflows in the week to Thursday, Thomson Reuters data showed. Philippine Composite Index shares ended the day up 0.13 percent at 6,521.64, still below a record finish of 6,527.99 hit early in the week. Stocks in Singapore and Malaysia both ended at one-week low in light trading volumes. Singapore's Straits Times Index edged down 0.2 percent at 3283.07 and Kuala Lumpur's Composite Index fell 0.2 percent to 1,627.93. The Malaysian bourse said foreign investors bought shares worth a net $27 million on the day.
Thai SET index eased 0.3 percent to 1,521.52. It still gained 1.6 percent on the week, the region's second best, with domestic institutions leading buyers. The market posted $69 million in foreign selling in the week to Thursday, data showed. Foreign investors have slowed new investment as they waited for the Bank of Thailand's (Monetary Policy Committee) MPC meeting to review its benchmark interest rate on February 20. Most economists have expected the MPC to maintain the rate at 2.75 percent. "Next week, the SET index movement will mainly rely on internal factors; the fourth quarter GDP, the MPC meeting and the earnings - dividend payout announcements," broker Maybank Kim Eng Securities said in a report.
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