The Philippine main index hit an all-time closing high while Thai benchmark index rose for a second session on Friday after banks such as BDO Unibank Inc and Siam Commercial Bank Pcl reported strong quarterly earnings. Philippine Composite Index climbed 1.5 percent to 6,957.10, surpassing its previous record close of 6,891.43 on April 12. It was up nearly 1 percent on the week, ranking third after Indonesia's 1.2 percent gain and Thailand's 1.19 percent.
Manila stock exchange posted foreign inflows for a fourth consecutive week. According to Thomson Reuters data, foreign investors have bought Philippine shares worth $113 million so far in the week to Thursday. In Bangkok, late buying in banking shares sent Thai SET index 1 percent up at 1,545.46. Siam Commercial Bank jumped 4 percent after it reported a higher-than-expected January-March quarter earnings.
Bangkok Bank Pcl gained 1.6 percent ahead of its quarterly results. After market close, it reported a 7.8 percent rise in quarterly net profit, above analysts' forecasts. Foreign investors bought Thai shares worth $26.33 million on Friday after selling shares worth $33 million on the previous session, exchange data showed.