Asia Stocks-Marginally higher at end of good month

BANGKOK,(Reuters) - Some Southeast Asian stock markets ended marginally higher in moderate volume on Friday, led by financials and big-caps, as a weakening U.S. dollar pushed investors towards regional assets.

Most share markets added to their gains in April as risk appetite in general rose, with Thai stocks racking up almost $1 billion in inflows on the month, the highest level since September, although trailing Indonesia’s $2 billion.

Thailand’s SET index edged up 0.11 percent, reversing early losses, and Indonesia’s index also recouped early losses to end 0.3 percent higher. Stocks in the Philippines and Vietnam gained 0.95 percent and 1.5 percent respectively.

Singapore’s Straits Times Index inched down 0.16 percent, with Malaysia’s index flat.

Singapore, Malaysia, Thailand and Vietnam will be closed on Monday for market holidays.

Because of the holidays, some dealers expect subdued trading next week, especially as there are also concerns about possible further steps by China to cool its economy. Regional equities may also take a breather after a good run in April.

“There may not be very much going on next week due to holidays. Technically, this region seems to be pulling down a little more for the short term,” said Bangkok-based Warut Siwasariyanon, head of research at Finansia Syrus Securities.

“For the longer-term trend, easy U.S. monetary policy will remain supportive of inflows and regional assets,” he said.

Jakarta hit a record high in the month while Thailand set a 15-year peak.

The gains in April were led by a 6.5 percent rise in Philippine stocks.

According to Thomson Reuters data, Jakarta saw $70 million in inflows on Friday, boosting its inflows for the month to $2 billion, including $1.7 billion on April 8, which involved big lots of shares in Berau Coal Energy .

“The market was flat today with a mixed performance in the banking and commodity sectors. Every stock move was based on individual issues such as first-quarter results,” said John Teja, director of Ciptadana Securities, in Jakarta.

Bank Mandiri climbed 1.4 percent, recouping early losses. After the close, Indonesia’s biggest lender reported its first-quarter net profit rose 89 percent.

In Singapore, DBS Group Holdings rose as much as 1 percent after Southeast Asia’s biggest lender posted a record quarterly profit thanks to falling bad-debt charges and a surge in trading income. Among weak spots, Thai food exporter Charoen Pokphand Foods dropped 1.7 percent due to profit taking, dealers said. Its shares were among top performer for the month as strong global demand for food boosted its earnings outlook.

Foreign investors sold a net $24 million of Thai shares on Friday, the exchange said.