July 3, 2019 / 10:31 AM / a year ago

SE Asia Stocks-Most waver amid slowdown fears; Thailand gains on foreign inflows

    * Thailand sees $225.8 mln of foreign inflows in 2 sessions
    * China's investment in APAC to benefit Thailand - Fitch
    * Indonesia is biggest loser, energy and financials weigh

    By Rashmi Ashok
    July 3 (Reuters) - Most Southeast Asian stock markets closed
weaker on Wednesday as lacklustre data from China heightened
worries about tepid global growth, while sole gainer Thailand
was boosted by foreign fund inflows.
    Following the disappointing manufacturing data from within
the region, a private survey showed that growth in China's
services sector slowed to a four-month low in June as new orders
from overseas customers declined.
    China, considered Southeast Asia's largest trading partner,
faced a slump in its economy and it could dent other economies.
    Thai index ended 0.4% firmer and was supported by
industrials and real estate stocks.
    In the last two sessions of trade, the Thai index has seen
$225.8 million of foreign inflows, which is already the highest
this year except in June, when inflows crossed $1.51 billion.
    "Strength in Thai baht is driving foreign fund inflows,"
said Voravan Tarapoom, managing director, BBL Asset Management. 
    The baht firmed 0.4% and has vastly outperformed
its peers this year, after topping emerging Asian peers in 2018.

    Meanwhile, rating agency Fitch said Thailand was set to
benefit from China's investment in the Asia-Pacific region as it
loosens policy settings and boosts growth to support the sagging
Chinese economy.
    A central bank official said the economy is expected to have
grown less than 3% for the first half of the year.
    Indonesian shares were the biggest laggards in the
region, dented by losses in financials and energy stocks. Mining
services provider United Tractors Tbk lost 0.8%, while
Bank Danamon Indonesia Tbk fell 1.7%.
    Malaysian shares and Singapore index
rebounded from early losses to end flat, while Philippines
 gave up early gains to end little changed.

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 Change on the day                                
 Market                 Current   Previous close  Pct Move
 Singapore              3367.8    3370.8          -0.09
 Bangkok                1738.51   1560.03         11.44
 Manila                 8092.68   8093.6          -0.01
 Jakarta                6362.622  6384.898        -0.35
 Kuala Lumpur           1690.05   1691            -0.06
 Ho Chi Minh            960.39    961.98          -0.17
 Change so far in 2019                            
 Market                 Current   End 2018        Pct Move
 Singapore              3367.8    3068.76         9.74
 Bangkok                1738.51   1563.88         11.17
 Manila                 8092.68   7,466.02        8.39
 Jakarta                6362.622  6,194.50        2.71
 Kuala Lumpur           1690.05   1690.58         -0.03
 Ho Chi Minh            960.39    892.54          7.60

 (Reporting by Rashmi Ashok in Bengaluru, Editing by Sherry
Nuestros Estándares:Los principios Thomson Reuters
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