Indonesia shares lead Southeast Asia declines

Southeast Asian stocks ended lower on Friday with Indonesia posting its biggest intraday percentage loss in over two weeks as the announcement of a tax hike on cigarettes weighed on tobacco companies.

Indonesia's finance minister on Friday said the government would raise the excise tax on cigarettes by an average of 10.5% next year, and also intensify its crackdown on the illegal circulation of cigarettes.

The Jakarta Composite Index ended down 1.24%, led by falls in major cigarette makers PT Hanjaya Mandala Sampoerna Tbk and PT Gudang Garam Tbk. The index fell 0.45% on the week.

A decline in oil prices and concerns over German lender Deutsche Bank spooked investors in regional markets, with financial and energy stocks losing ground. 

Singapore shares finished lower, but gained 0.44% on the week. Blue-chips Singapore Telecommunications Ltd and Singapore Airlines Ltd were among the top losers on the index.

A weak peso pushed down Philippine stocks, which closed over 1% lower led by losses in telecom and consumer non-cyclicals. The index also posted its biggest quarterly percentage loss in a year.

The Philippine peso in September saw its steepest monthly drop in 16 years as concerns grew that President Duterte's policies may keep driving foreign investors out of the country.

"Investors are concerned about this headline-grabbing rhetoric from the president. They are looking for buzz words like growth and economic development," said Victor Felix, an analyst with AB Capital Securities in Manila.

"I project that this weakness in the peso will continue," he added.

Malaysian stocks closed 1% lower, dragged down by financials and consumer cyclicals, while Vietnam snapped a nine-day winning streak to end down 0.41%, but gained 1.7% on the week.