Southeast Asian markets: Thailand hits two-week high, others subdued

Thai stocks surged to a two-week high on Thursday led by banking shares but most other stock markets in the region ended flat or lower amid renewed concern over the debt crisis in the euro zone. Foreign inflow of $43.35 million also helped boost sentiment on the Thai bourse with the jumping 1.5 percent to its highest since April 4. Both Siam Commercial Bank PCL and Kasikornbank PCL were among the big gainers.
But stocks in Indonesia, Philippines, Malaysia and Vietnam fell. The Philippines, which hit a record high on Wednesday, edged down 0.3 percent on profit taking, while Indonesia finished 0.1 percent weaker with a foreign outflow of $12.3 million. Malaysia edged down 0.1 percent, but foreign investors bought a net 205.32 million Malaysian ringgit ($66.99 million) worth shares from Kuala Lumpur. Vietnam, the region's smallest market fell 1.1 percent. But Singapore ended 0.3 percent higher to highest level since April 3.