Southeast Asian stock markets mostly fell on Friday amid foreign selling and weaknesses in most emerging Asian currencies, but Thai stocks eked out gains as big banks rallied after buying interest from domestic institutions. Reports that a doctor who returned to New York City from West Africa tested positive for Ebola dented sentiment across Asia.
Stock exchange data showed net foreign selling of Thai stocks, Indonesian and Malaysian shares worth 2.76 billion baht ($85.3 million), 352 billion rupiah ($29 million) and 56.2 million ringgit ($17.2 million) respectively. Thai stock index finished up 0.5 percent, led by shares of Bangkok Bank, Kasikornbank and Siam Commercial Bank. Institutional investors, including mutual funds, were among active buyers.
Brokers said the institutional buying partly came from long-term equity funds and retirement mutual funds, often active towards the end of the year due to favourable tax treatment for the funds. The SET was up 0.7 percent on the week, its first gain in four. The region all ended the week higher, led by Singapore and Malaysia both up about 1.7 percent.
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