Thai stocks ended at their lowest in almost four weeks on Wednesday as concerns over political tensions spurred selling while other Southeast Asian stocks edged higher on market expectations that the US Federal Reserve would keep its stimulus policy. The Thai SET index underperformed the region, down 1.7 percent at 1,431.12, its lowest close since October 7. Large caps such as Advanced Info Service, PTT and Shin Corporation were among those actively traded.
"Selling flows from domestic investors were a bit dominant. The weak sentiment was mainly because of the political situation which outweighed hopes about the Fed's policy," said strategist Teerawut Kanniphakul of CIMB Securities in Bangkok. Philippine stocks were among the bright spots in the region amid strong buying interest in a reporting season. The benchmark index rose 0.8 percent to a one-week closing high of 6,597.21.
Shares in Bank of the Philippine Islands climbed 3 percent, the third-biggest percentage gainers on the key index. The bank reported after market close that its net profit for nine months ended September rose 19 percent. Singapore's key Straits Times Index was up 0.7 percent at 3,230.44, its highest close in almost six weeks, amid late buying, tracking the gain in MSCI's broadest index of Asia-Pacific shares outside Japan. Malaysian stocks were up 0.1 percent, with foreign investors buying shares worth a net $6.2 million while Indonesia edged up 0.3 percent, with foreign investors selling $15.4 million, Thomson Reuters and stock exchange data showed.
Comments
Comments are closed.