Most Asian markets weak amid foreign selling

(Reuters): Most Southeast Asian stock markets closed weaker on Thursday, with Thailand hitting a five-week low, led by telecommunications shares, while Indonesia outperformed the region on the back of financial stocks.

Thailand suffered a net foreign outflow of $98.33 million, Indonesia saw a net foreign selling of $29.20 million, Malaysia witnessed $14.72 million outflow, and the Philippines saw $8.75 million net outflow. 

Thailand’s SET index ended 0.4% weaker at its lowest level since 6 October. 

The Philippines index fell 1.1% to over five-week low, Singapore’s Straits Times Index closed 0.8% at its lowest level since 8 October.

However, Indonesia’s Jakarta Composite index closed 0.2% up. 

Malaysia fell 0.1% while Vietnam’s benchmark VN Index rebounded to end 0.3% higher, snapping a four-day falling streak, as gains in some blue-chip companies in the list of state divestment offset losses in others.