Shares in the Philippines and Vietnam fell on Thursday in line with world equities while the Thai benchmark recouped some early losses on gains in Siam Commercial Bank and Siam Cement. The Thai SET index ended the day marginally lower at 1,372.35, its lowest close since September 15. Shares in Siam Commercial Bank, Thailand's third-largest lender by assets, ended up 4 percent while Siam Cement rose 0.9 percent. Both shares had fallen in early trade.
The late rebound came after Siam Commercial Bank sold its stake in Siam Cement, raising 4.47 billion baht ($123.17 million) toward covering provisions for loans to struggling steel firm Sahayiriya Steel Industries. The Philippine index was down 0.1 percent at 6,917.55, its lowest close since September 11. Vietnam's index ended down 0.4 percent at its lowest close since September 18.
World shares fell for the fifth day running on Thursday, sliding back towards two-year lows on growing unease about global growth, while emerging markets continued to gnaw at investor confidence. Stock markets in Singapore, Malaysia and Indonesia were all closed on Thursday for a public holiday, resuming on Friday.