Southeast Asian stock markets ended mixed on Friday with Thailand bouncing back from a near six-week low hit earlier in the session on the back of bargain-hunting after five straight sessions of losses. The Thai SET Index gained 0.95 percent on Friday, but posted a weekly fall of 2.2 percent as weak oil prices hit energy stocks. "For short-term strategy, any dips should be taken as an opportunity to accumulate positions," Phillip Capital in Bangkok said.
The Philippines gained 0.2 percent on Friday, led by property developer Robinsons Land Corp with a gain of 2.1 percent. Singapore's Straits Times Index dropped as much as 1.1 percent before recovering some lost ground to close 0.2 percent lower. It fell 0.4 percent for the week, its third straight weekly drop. Lack of positive domestic catalysts and concerns over first-quarter results in Indonesia caused a 0.4 percent fall in the Jakarta Composite Index, said Trimegah Securities.
Banking stocks led the losses with two of the country's largest banks as top decliners. Shares of PT Bank Mandiri Tbk dropped 4.37 percent, their biggest fall since February 19, while PT Bank Rakyat Indonesia Tbk fell 2.7 percent. Indonesian companies will start reporting first-quarter results later this month.
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