SET jumps, Indonesia stocks post 11-month closing low

The Stock Exchange of Thailand index gained for a third straight session, while Indonesia marked its lowest close in more than 11 months.

The SET main index rose 14.14 points or 0.81% to close at 1,768.31, in trade worth 47 billion baht.

PTT Exploration and Production Plc closed 2.4% higher at 149 baht, while Kasikornbank Plc gained 2.4% to end the day at 193 baht.

Thailand saw its fastest economic growth in five years in the first quarter, boosted by strong exports and tourism, plus a slight firming in private consumption.

Jakarta's main index closed at its lowest since June 2017, with banking stocks bearing the brunt.

Bank Rakyat Indonesia ended 6.1% lower, while Bank Negara Indonesia lost 3.6%.

Bank Indonesia said it would conduct three foreign exchange swap auctions this week to ensure there is enough currency liquidity in the market after it hiked its benchmark interest rate last week to support the rupiah and plug capital outflows.

"As the US continuously raises interest rates, it's impacting a lot of emerging markets, such as Indonesia. Hence, the central bank has to raise interest rates to stamp out capital outflows," said Joel Ng, analyst at KGI Securities.

The index of the country's most liquid stocks shed 1.3%.

Vietnam ended 2.5% lower, with real estate and financials leading the fall. Vingroup Joint Stock was the biggest drag on the index, closing 7% lower.

"Foreign selling recently has hit Vietnam harder. We went up a lot in the first quarter, so the impact of profit-taking is greater now," said Fiachra Mac Cana, head of research at Ho Chi Minh Securities.

Singapore nudged up 0.54% to end at a one-week high.