SE Asia Stocks-Most shed gains; Thai index falls on foreign selling
BANGKOK, April 23 (Reuters) - Most Southeast Asian stock markets ended lower on Thursday, with Thai shares giving up early gains due to foreign-led selling but a rate-cut hope and bargain hunting in a reporting season lifted some stocks. Thai key SET index closed down 0.5 percent amid active selling in large caps such as Krung Thai Bank, Kasikornbank and PTT. Shares of industrial conglomerate Siam Cement bucked the trend, with a gain of 1.1 percent ahead of its quarterly results due around mid next week. Leasing company Srisawad Power 1979 and lender Bangkok Bank rose as a fall in Thai bond yields on Wednesday led to expectations that the Monetary Policy Committee meeting next week may cut a policy interest rate . The Thai stock market posted a net foreign outflow of 1.8 billion baht ($55.5 million) after a combined net purchase of 3.3 billion baht ($101.7 million) over past two days, stock exchange data showed. Stocks in Malaysia fell for a second straight day, while Indonesia and Vietnam erased early gains to end the day lower. World shares weathered soft readings on Chinese and Japanese manufacturing on Thursday that merely drove expectations of more policy stimulus there, though lacklustre euro zone data was less well received. Among bright spots, the Philippine main index rose 0.8 percent, ending four sessions of losses. Foreign investors bought a net 95 million peso ($2.15 million), including shares of SM Prime Holding, stock exchange data showed. In Singapore, shares of mid cap Yanlord Land Group Ltd , a property developer doing business in China, surged 9.1 percent. For Asian Companies click; For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move Singapore 3502.75 3496.24 +0.19 Kuala Lumpur 1846.08 1854.77 -0.47 Bangkok 1544.84 1552.01 -0.46 Jakarta 5436.21 5437.12 -0.02 Manila 7892.05 7833.03 +0.75 Ho Chi Minh 561.25 562.51 -0.22 Change on year Market Current End 2014 Pct Move Singapore 3502.75 3365.15 +4.09 Kuala Lumpur 1846.08 1761.25 +4.82 Bangkok 1544.84 1497.67 +3.15 Jakarta 5436.21 5226.95 +4.00 Manila 7892.05 7230.57 +9.15 Ho Chi Minh 561.25 545.63 +2.86 ($1 = 44.2400 Philippine pesos) ($1 = 32.4600 baht) (Reporting by Viparat Jantraprap; Additional reporting by Rujun Shen in Singapore; Editing by Anand Basu)
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