Thai stocks hit one-month low on Friday, posting their biggest weekly loss since July, as looming legal hurdles on 3G auction triggered selling in telecom shares while Vietnamese stocks rebounded after two sessions of losses.
Thailand's main SET index ended down 1.2 percent at 1,281.81, the lowest close since September 26, falling almost 2 percent on the week, to become Southeast Asia's worst performer. Leading decliners, Advanced Info Service, the biggest telecom firm, dropped 2.5 percent as newspapers reported an investigation by the National Anti-Corruption Commission loomed over last month's auction of third-generation (3G) telecom operating licences.
The Ho Chi Minh Stock Exchange's VN Index gained 0.5 percent after a combined 1.97 percent fall over the past two sessions. It is down 1.6 percent on the week. Stock markets in Singapore, Malaysia, Indonesia and the Philippines were closed on Friday. Malaysia climbed to an all-time closing high on Thursday, up 0.33 percent on the week, outperforming its regional peers.