BANGKOK: Southeast Asian markets ended mixed on Thursday, with Indonesian stocks outperforming the region despite foreign outflow as investors bought beaten down shares after the sell off early this week.
Some markets were upbeat over Wednesday's gains on Wall
Street on strong U.S. housing data and dovish statements from a
top Federal Reserve official, but investors were still cautious
and awaited U.S. jobless claims and durable goods numbers due
later in the day for cues.
The Jakarta Composite Index ended 0.5 percent up,
recovering from its lowest close since Sept. 16, despite selling
from foreign investors, who offloaded a net $46.19 million worth
of shares.
"The market is lacking new sentiment, but the decline in the
past few days is giving investors opportunities to enter the
market," said Reza Priyambada, head of research at Woori Korindo
Securities Indonesia.
Financials led the overall gain with Banks Central Asia
and Bank Rakyat Indonesia adding 3.2 percent
and 1.7 percent respectively.
Priyambada said a stable rupiah also supported
positive sentiment.
Thailand's SET index surrendered its early gains to
end steady at a 16-month closing high, with foreign investors
buying $74.30 million worth of shares on Thursday.
Analysts however said investors were optimistic of
Thailand's economic growth prospect.
Thailand's central bank will release revised economic
projections on Friday and the market expects it to keep the
country's 2014 GDP growth forecast under 2 percent and announce
a higher growth estimate for the next year.
Other Southeast Asian markets traded mixed. Malaysian shares
closed 0.2 percent firmer despite $39.12 million
outflow, while the Philippines ended 0.8 percent weaker,
though foreign investors bought $7.43 million worth of shares.
Vietnam's benchmark VN Index, which fell dropped
below the key 600-mark in the morning session, recovered to end
0.3 percent higher.
SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
Singapore 3290.99 3292.81 -0.06
Kuala Lumpur 1843.11 1840.08 +0.16
Bangkok 1591.99 1591.89 +0.01
Jakarta 5201.38 5174.01 +0.53
Manila 7294.21 7355.29 -0.83
Ho Chi Minh 605.10 603.59 +0.25
Change on year
Market Current End 2013 Pct Move
Singapore 3290.99 3167.43 +3.90
Kuala Lumpur 1843.11 1866.96 -1.28
Bangkok 1591.99 1298.71 +22.58
Jakarta 5201.38 4274.18 +21.69
Manila 7294.21 5889.83 +22.84
Ho Chi Minh 605.10 504.63 +19.91
($1 = 44.8200 Philippine peso)
($1 = 3.2515 Malaysian ringgit)
($1 = 11,975.0000 rupiah)
(1 US dollar = 32.2700 Thai baht)
- Reuters
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