ASEAN-BANGKOK: STOCKS – SET edges higher, Singapore stocks snap losing streak

Thai stocks end slighly higher on Thursday, while other Southeast Asian shares end mixed. (Bangkok Post file photo)

.

.

The Stock Exchange of Thailand main index and most Southeast Asian markets edged higher on Thursday tracking broader Asia.

The SET index gained 1.22 points, or 0.07%, to close at 1,786.66, in trade worth 55.93 billion baht.

MSCI’s broadest index of Asia-Pacific shares outside Japan was trading up 0.1% at 566.60 at 5.09pm, while the S&P e-mini futures were largely flat in late Asian trading hours.

Singapore shares ended 1% higher, snapping four sessions of losses with DBS Group Holdings surging 5.3% after posting a 33% rise in fourth-quarter profit.

United Overseas Bank and Oversea-Chinese Banking Corporation rose around 1% each.

Philippine shares closed 0.3% lower as investors stayed on the sidelines ahead of the outcome of a central bank meeting.

“I think what also added to the movement today is that investors were a bit cautious with the bank meeting today,” said Lexter Azurin, a senior equity analyst at AB Capital.

After market hours on Thursday, the Bangko Sentral ng Pilipinas kept its benchmark interest rate steady.

In a bid to ease investor concerns that a potential US rate hike could spark capital outflows from the Philippines, central bank Governor Nestor Espenilla said the country was well protected and the bank was prepared to provide liquidity to the financial system if necessary.

Index heavyweights SM Investments Corp and Universal Robina Corp dragged the index lower, falling 1% and 2.3%, respectively.

Vietnam shares closed down 1.7% marking their third losing session in four.

Vietnam posted a trade surplus of US$181 million in January, contrary to a government estimate which predicted a $300 million deficit, the Customs Department said on Thursday.

TAGS

Stocks – SET – Thai stocks – SE Asia stocks

RELATED STORIES

• SET closes lower, Singapore stocks fall to 2-week low
• SET drops, other SE Asia stocks tumble
• SET, regional shares sink in line with world markets

.

It's only fair to share...