Thailand posts higher outflows last week; Vietnam fund flows positive
The Thai stock market saw the
pace of net foreign selling increasing last week, reflecting the state of an
overbought market, while Vietnam equities reported positive fund flows for the
week ended Aug. 24 despite concerns over banking risks.
Thai stocks posted outflows worth
$95 million last week compared with $64 million for the earlier week, according
to Thomson Reuters data.
At the midsession break of 0530
GMT, Thai benchmark SET index was up 0.33 percent at 1237.74, hovering close to
a 2012 high, with its 14-day relative strength index (RSI) at 66.9, close to
the 'overbought' mark of 70 or higher.
Vietnam's index fell to the
'oversold' mark of 28.4 after a strong fall since last week triggered by the arrests
of ACB executives that have kept most retail investors bearish.
Figures for the last week showed
net foreign buying of $16 million on the Ho Chi Minh Stock Exchange. That added
to a combined $17 million in foreign inflows over the previous five consecutive
weeks.
Fund flows were mixed for others
in a short week amid market holidays. The Philippines absorbed $54 million in
inflows last week, halting two straight weeks of outflows worth $74 million,
data showed.
Indonesia posted $6 million in
outflows last week after taking in foreign inflows worth $642 million for five
straight weeks, data showed.
Reuters
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