Most Southeast Asian markets ended higher on Tuesday while Malaysian shares hit a more than eight-month closing low on continued profit booking in index heavyweights. Following a heavy sell-off on Monday, Chinese shares reversed early losses with the CSI 300 index ending up 0.2 percent. Shanghai's SSE Composite index closed up 0.3 percent. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1 percent.
Malaysian shares slipped 0.3 percent to their lowest close since March 3. Genting Bhd and CIMB Group, down 2.1 percent and 0.7 percent respectively, were the biggest drags. Philippine shares fell broadly across sectors as financials and telecom stocks weighed, with PLDT Inc losing 4.5 percent. The market should start picking up from January, he added.
Meanwhile, the index of Indonesia's 45 most liquid stocks gained 0.5 percent. Bank Negara Indonesia (Persero) Tbk, the biggest contributor, hit a more than two-decade closing high. The Singapore benchmark closed 0.1 percent higher as gains in financials were largely offset by losses in industrials. Oversea-Chinese Banking Corporation Ltd closed at a record high. Thai shares closed up 0.6 percent, buoyed by industrial and consumer discretionary stocks.
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