SE Asia Stocks: Late buying lifts Singapore, Thailand
BANGKOK, May 15 – Stocks in Singapore and Thailand pushed higher today, with beaten down commmodities-related shares rebounding, as strong growth in Germany spurred late buying and eased worries over the political turmoil in Greece and the euro debt problems.
Singapore’s main index edged up 0.44 per cent at 2,876.70, bouncing back from an intraday low of 2,850.61 and reversing losses of the past two sessions. The Thai SET index climbed 1.63 per cent after yesterday’s 2.1 per cent drop.
A flurry of foreign selling activity pulled Thai shares off their 16-year highs hit early this month.
The Thai stock market saw around US$182 million worth of net foreign outflows so far in May to yesterday, after a combined US$2.7 billion of net foreign inflows for the first four months, according to Thomson Reuters data.
Indonesia also posted net foreign outflows of US$146 million for the period, but Vietnamese stocks had US$19.9 million worth of inflows, the data showed. The Malaysian bourse said it took in around US$160 million of inflows during the period.
Foreign flow data for Singapore and the Philippines is not available. – Reuters