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Thursday, December 9, 2021

SE Asia Stocks: Mixed; Thai stocks rebound

SE Asia Stocks: Mixed; Thai stocks reboundBANGKOK: Thai shares staged a mild rebound on Wednesday as domestic investors hunted for bargains, while stocks in Vietnam retreated after the central bank devalued the dong for the third time this year to support exports.

The Thai SET index ended the day up 0.5 percent, recovering from Tuesday’s near 3 percent drop, with domestic institutions and retail investors buying shares.

The Thai bourse said foreign investors sold a net 4.6 billion baht ($ 129.3 million), extending their selling to a second straight day after a deadly bomb blast in central Bangkok raised concerns about the outlook of tourism industry.

The Thai baht hit a six-year trough as foreign investors on Tuesday reported their largest stock selling in more than 1-1/2 years.

Vietnam’s benchmark VN Index ended down 0.41 percent after the central bank depreciated the Vietnamese dong and raised its trading band, with large-cap shares mixed in steady volume.

Stocks in Malaysia trimmed some early gains after July inflation picked up more than expected.

Singapore, Indonesia and the Philippines were little changed after rangebound trading in line with broader Asia. Investors awaited minutes from last month’s Federal Reserve meeting for any hints on U.S rate hike plans.

Copyright Reuters, 2015

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