SE Asia Stocks: Rise in rangebound session; property leads S’pore
BANGKOK, July 5 – Most Southeast Asian stock markets ended higher today after a rangebound session ahead of the European Central Bank’s policy decision, with Singapore led by gains in developers such as Capitaland Ltd supported by strong property demand.
Singapore’s Straits Times Index rose 0.8 per cent to 2,971.47, marking its seventh straight day of gains and its longest winning streak in one year. Capitaland, Southeast Asia’s largest property developer, advanced 2.8 per cent.
The Thai SET index gained 0.6 per cent while Malaysian shares closed up 0.04 per cent, topping yesterday’s record closing high. The Philippine index inched up 0.3 per cent, hovering near its all-time intraday high hit yesterday.
Vietnam shares added 0.8 per cent after three sessions of losses. Indonesia bucked the trend, ending 0.15 per cent lower.
The emerging region posted foreign inflows this week, with Indonesia taking in US$156 million in the week to Wednesday, ahead of US$94 million in inflows by Manila, Thailand’s US$40 million and Vietnam’s US$1.53 million, according to Thomson Reuters data. – Reuters