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SE Asia: Stocks-end mixed as foreign investors sell ahead of Fed

Wednesday, February 10, 2016 - 19:07
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Southeast Asian stock markets ended mixed on Wednesday, with Singapore shares recovering partly from early losses, as investors awaited Congressional testimony from US Federal Reserve chair Janet Yellen for clues to the outlook for monetary policy.

[BANGKOK] Southeast Asian stock markets ended mixed on Wednesday, with Singapore shares recovering partly from early losses, as investors awaited Congressional testimony from US Federal Reserve chair Janet Yellen for clues to the outlook for monetary policy.

Singapore's benchmark Straits Times Index finished down 1.6 per cent, slipping more than 3 per cent at one point, partly reflecting weaknesses in the region during the Lunar New Year holiday period when the city-state bourse was shut.

Stocks in Malaysia lost about 1 per cent on resuming trade after a four-day weekend. Indonesia extended losses for a second day, pulled further away from a near six-month closing high hit late last week.

Thailand and the Philippines ended slightly higher, reversing weaknesses in the early trading hours, in line with Asian stocks which were marginally down by 0.08 per cent.

Foreign selling hit shares across the region. Thailand saw net foreign selling worth 2.5 billion baht (S$98.47 million) and Malaysia worth 118 million ringgit (S$39.88 million), stock exchange data showed.

Vietnam will remain closed for the Lunar New Year holiday through Friday.

REUTERS