JAKARTA — Southeast Asian stock markets gained on Thursday on an overnight rally in oil prices with Malaysian stocks ending a three-day fall.
Indonesia's stock index rose 0.5% to close at 4,876.60. The mining sub-index outpaced the main index with a 2% gain as coal mining stocks benefited from higher oil prices.
Malaysian stocks ended up 0.7% to 1,708.91 with gaming conglomerate Genting Bhd posting its biggest one-day gain in three months.
Philippine stocks rose 0.8% to 7,201.37, while Singapore was up 0.37% to 2,949.95.
The SET index also closed at its highest since Oct 27.
European stock markets dipped, despite earlier gains in Asia and overnight on Wall Street, as caution prevailed before a key eurozone interest rate decision.
Frankfurt, London and Paris equities slid before an announcement from the European Central Bank, which was set to hold borrowing costs but could provide clues on future policy.
The Frankfurt-based institution will announce its latest decision at 11.45 GMT (6.45pm Thailand time).
"With April's ECB meeting looming on the horizon the European indices looked notably nervier," observed Spreadex analyst Connor Campbell.