SE Asia Stocks: Most higher; Thailand falls on energy selling
BANGKOK, May 21 – Southeast Asian stock markets were broadly higher today on buying by investors after sell-offs in recent days, but gains were limited by worries over Europe’s debt crisis.
Vietnamese stocks closed 3 per cent higher, with its 14-day relative strength index (RSI) at 41.5, bouncing from 30.7 on Friday. A level of 30 or lower indicates the market is oversold.
Among the oversold markets, shares in Singapore posted a modest gain of 0.4 per cent, with the 14-day RSI of Singapore’s Straits Times Index closing at 25.4, compared with 22.2 on Friday.
The Thai stock market bucked the trend, though, dragged 1.7 per cent lower by shares of energy firms as investors worried about the impact of weak oil markets on earnings.
The index of heavyweight energy firms was down 2.4 per cent. – Reuters