BANGKOK, Aug 18 — Southeast Asian stock markets were range-bound today, with Thai shares easing as investors cashed in on recent gainers among large-caps such as Intouch Holdings, while stocks in Malaysia snapped five days of gains amid foreign-led selling.
Bangkok’s SET index ended down 0.3 per cent, giving up early gains after data showed Thailand avoided recession in the second quarter.
Investors awaited the formation of an interim government seen taking place by next week. Broker KGI Securities said optimism the new cabinet would boost growth in the second half of 2014 remained intact.
General Prayuth Chan-ocha, stressing that the military had a “limited time” in power before a return to civilian rule, submitted a draft fiscal 2015 budget today, with defence and education receiving hefty increases.
Malaysia’s key index fell 0.14 per cent after hitting a more than one-week high on Friday. Malaysia and several markets in Southeast Asia reported outflows amid concerns about tensions between Ukraine and Russia.
Exchange data showed foreign investors were net sellers of Malaysian shares worth RM60 million.
Foreigners also offloaded a net 31 million peso (RM2.2 million) in Philippine shares and Thai stocks worth a net 983 million baht. — Reuters
