* Thailand sees $225.8 mln of foreign inflows in 2 sessions
* China's investment in APAC to benefit Thailand - Fitch
* Indonesia is biggest loser, energy and financials weigh
By Rashmi Ashok
July 3 (Reuters) - Most Southeast Asian stock markets closed
weaker on Wednesday as lacklustre data from China heightened
worries about tepid global growth, while sole gainer Thailand
was boosted by foreign fund inflows.
Following the disappointing manufacturing data from within
the region, a private survey showed that growth in China's
services sector slowed to a four-month low in June as new orders
from overseas customers declined. China, considered Southeast Asia's largest trading partner,
faced a slump in its economy and it could dent other economies.
Thai index .SETI ended 0.4% firmer and was supported by
industrials and real estate stocks.
In the last two sessions of trade, the Thai index has seen
$225.8 million of foreign inflows, which is already the highest
this year except in June, when inflows crossed $1.51 billion.
"Strength in Thai baht is driving foreign fund inflows,"
said Voravan Tarapoom, managing director, BBL Asset Management.
The baht THB=TH firmed 0.4% and has vastly outperformed
its peers this year, after topping emerging Asian peers in 2018.
EMRG/FRX
Meanwhile, rating agency Fitch said Thailand was set to
benefit from China's investment in the Asia-Pacific region as it
loosens policy settings and boosts growth to support the sagging
Chinese economy. A central bank official said the economy is expected to have
grown less than 3% for the first half of the year. Indonesian shares .JKSE were the biggest laggards in the
region, dented by losses in financials and energy stocks. Mining
services provider United Tractors Tbk UNTR.JK lost 0.8%, while
Bank Danamon Indonesia Tbk BDMN.JK fell 1.7%.
Malaysian shares .KLSE and Singapore index .STI
rebounded from early losses to end flat, while Philippines
.PSI gave up early gains to end little changed.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3367.8 3370.8 -0.09
Bangkok 1738.51 1560.03 11.44
Manila 8092.68 8093.6 -0.01
Jakarta 6362.622 6384.898 -0.35
Kuala Lumpur 1690.05 1691 -0.06
Ho Chi Minh 960.39 961.98 -0.17
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3367.8 3068.76 9.74
Bangkok 1738.51 1563.88 11.17
Manila 8092.68 7,466.02 8.39
Jakarta 6362.622 6,194.50 2.71
Kuala Lumpur 1690.05 1690.58 -0.03
Ho Chi Minh 960.39 892.54 7.60
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Thai Equities Foreign Flows https://tmsnrt.rs/2Ytf2Bu
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