SE Asia Stocks Most rebound; Thai SET slips near 1,500 ahead of holiday

by **Cals** Wed 01 Jul 2015, 01:12

SE Asia Stocks
Most rebound; Thai SET slips near 1,500 ahead of holiday

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By Reuters / Reuters | June 30, 2015 : 6:36 PM MYT

BANGKOK (June 30): The Philippine index ended nearly flat on Tuesday, recouping most early losses amid foreign-led buying, while share markets in Southeast Asia rebounded from the fall on the previous day but concerns remained over a looming Greek debt default.

Philippine composite index was a tad 0.04 percent down at 7,564.50, bouncing off a near one-week low of 7,496.43.

The Philippine bourse said net foreign inflows lifted shares such as [size=14]Metropolitan Bank & Trust Co and Aboitiz Power Corp both gained more than 1 percent.

The Philippines' index posted a 4.7 percent fall in the quarter ended June, trimming its year-to-date gain to 4.62 percent, still among regional outperformers.

Thai stocks underperformed as weak indicators in May hit economic proxies such as banks, while Prime Minister Prayuth Chan-ocha said Thai economy should see only a minor impact from the Greek debt crisis.

The key SET index shed 0.4 percent on Tuesday, ending the quarter with a modest decline of 0.09 percent. Thai stock market will be closed on Wednesday for a market holiday, reopening on Thursday.

Major Southeast Asian stock markets all suffered losses in the second quarter, reflecting uncertainties such as the U.6S. interest rate hike expectations, the Greek debt overhang and economic slowdown in the region.

Indonesia was the quarter's worst performer, with an 11 percent drop, followed by Malaysia's 6.8 percent and Singapore's 3.8 percent. Vietnam bucked the trend, up 7.6 percent.
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