Thai shares rose more than 1 percent on Monday led by energy and banking stocks while other markets in Southeast Asia ended mixed amid weakness in Asia and after soft Chinese factory activity data. Bangkok's SET index finished at 1,413.34, just off the day's high. Top actively-traded stocks included the biggest firm by value PTT Pcl, which jumped 4 percent, and Kasikornbank, which rose 3.2 percent.
Turnover was relatively light at about 80 percent of the 30-day average, similar to the region. Domestic institutions bought shares worth a net 1.6 billion baht ($44.96 million), countering sales by foreign investors. Investment managers of long term equity funds (LTFs) and retirement mutual funds (RMFs) had bought shares since Friday, brokers said. Demand for LTFs and RMFs often rises towards the year-end as tax incentives of the funds attract investors.
"The anticipation of an injection of funds through LTF and RMF could bolster the overall market this month," said broker Krungsri Securities. The Philippines rose 0.9 percent after Friday's third straight loss to a more-than-one-week low, with a modest net inflows worth 64 million pesos ($1.36 million), stock exchange data showed. Singapore fell for a fifth day to its lowest in more than three weeks.