SET rebounds, other Southeast Asia markets rise

The Stock Exchange of Thailand main index recovered some of its losses, while most Southeast Asian stock markets rose on Friday, in line with Asian peers.

The SET index rose 0.53% to close at 1,838.88, buoyed by gains in materials and energy stocks. The Thai shares plunged 1.07% on Thursday.

Indonesian shares climbed 0.7%, with Telekomunikasi Indonesia up 4.5%. The index gained 2.6% on week.

An index of the country's 45 most liquid stocks gained 0.8%, and was up for an eighth straight week.

Philippine shares touched a record closing high, and posted an 1.4% gain for the week.

Vietnam added 1% to reach its best closing level since March 2007, propelled by financials and utilities.

Lender BIDV rose 6.9% 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.

Singapore fell 0.2%, 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.