Southeast Asian markets: Indonesia, Philippines hit record highs

Most Southeast Asian stock markets rose on Friday, in line with Asian peers, with Indonesia marking a record close on gains in telecom and financial stocks and the Philippine index up on industrials. Asian stocks extended their winning run to the 11th day on Friday, while the battered dollar won back some ground after President Donald Trump said he wanted a strong US currency.
Indonesian shares climbed 0.7 percent, with Telekomunikasi Indonesia up 4.5 percent. The index gained 2.6 percent on week. An index of the country's 45 most liquid stocks gained 0.8 percent, and was up for an eighth straight week.
Philippine shares touched a record closing high, and posted an 1.4 percent gain for the week. Vietnam added 1 percent to reach its best closing level since March 2007, propelled by financials and utilities.
Lender BIDV rose 6.9 percent to an all-time peak. Malaysian shares closed at a more than two-year high, on financials and consumer staples, and were up for a ninth straight week.
The Thai index rose 0.5 percent, buoyed by gains in materials and energy stocks. Singapore fell 0.2 percent, as losses in financials offset gains in real estate stocks.
DBS Group Holdings, the biggest drag on the index, was down for a second straight session. "I think what we are seeing today could be some minor profit-taking, but we are not seeing a broad-based sell-off," said Liu Jinshu, director of research at NRA Capital in Singapore.
The city-state's manufacturing output in December fell for the first time in nearly 1-1/2 years, data showed.