Thai share hits over four-year high

| Updated: October 24, 2017 19:38:40

Thai share hits over four-year high

Thai shares climbed to a more than four-year high on Friday, while most other Southeast Asian stock markets traded range-bound.

Robust Chinese trade data lent support to broader Asian shares, with an index of shares across Asia, excluding Japan, rising 0.6 per cent.

China's August imports grew at a better-than-expected pace of 13.3 per cent from a year earlier, while exports rose 5.5 per cent, roughly in line with expectations, reports Reuters.

Thai stocks rose 0.6 per cent to their highest since May 2013, led by financials and telecom sectors. Advanced Info Service Pcl rose 1.8 per cent and Siam Commercial Bank PCL climbed 1 per cent.

Malaysia shares fell 0.4 per cent, after two sessions of gains, with financials and consumer discretionary stocks dragging the index.

Heavyweights CIMB Group Holdings fell 2.2 per cent, while IHH Healthcare fell 1.8 per cent to its lowest in 2 weeks.

Trading in most other stock markets in the region was lacklustre.

"Lately we have been bombarded with a lot of concerns that are geopolitical in nature, so I think the market is taking a break and is moving sideways today," said Jose Vistan, research head at AB Capital Securities.

Philippine shares rose 0.1 per cent, with industrials and real estate accounting for majority of the gains. Ayala Land Inc climbed 1.2 per cent to its highest in six weeks, while Jollibee Foods Corp gained 1.6 per cent to its highest since October 2016.

Vietnam shares rose 0.4 per cent to their highest since February 2008, with Petrovietnam Gas Joint Stock Corp climbing 2.4 per cent.

Indonesian shares rose marginally while Singapore shares posted meagre losses.

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