The Stock Exchange of Thailand index fell again, while other Southeast Asian stock markets rose on Friday amid hopes of a thaw in Sino-US trade relations.
The SET index closed marginally lower, lossing 3.83 points or 0.23% to 1,635.00, in turnover worth 37 billion baht. Thai shares extended their declines into a third session.
Utility and real estate stocks were the top losers with Central Pattana Plc shedding 3.2% and Gulf Energy Development Plc declining 1.6%.
For the week, the index fell 2%, in their second straight weekly drop.
Philippine stocks added nearly 2% after the central bank raised its benchmark rate for the fifth time in a row.
After market hours on Thursday, the Bangko Sentral ng Pilipinas raised the rate on its overnight reverse repurchase facility by 25 basis points to 4.75%, lifting borrowing costs by 175 bps this year, in a bid to tackle elevated inflation and bring it back to within its 2-4% target range next year.
"Central bank raising rates by 25 basis points, coupled with falling crude oil prices, is a positive indicator that inflation will slow in the coming months, helping stocks rise," said Fio Dejesus, an equity research analyst with RCBC Securities.
Industrials and financials helped the key stock index close higher for a third straight session. Top conglomerate SM Investments Corp climbed 1.1%, while BDO Unibank Inc rose 5.1%.
For the week, Philippine shares closed 1.6% higher after a 2.4% drop last week.
Indonesian shares rose about 1%, extending gains into a fourth session, boosted by financial and telecom stocks. For the week, they gained 2.4%.
Bank Central Asia Tbk PT and Telekomunikasi Indonesia (Persero) Tbk climbed 2.7% and 3.6%, respectively.
Singapore shares gained nearly 1%, with conglomerates Sembcorp Industries Ltd and Jardine Matheson Holdings Ltd rising 2.3% and 4.3%, respectively.
Malaysian shares extended their gains into a third session, but closed the week 0.1% lower.
Sime Darby Bhd, the world's largest palm oil planter by land size, climbed 1.7%, while mobile phone operator Axiata Group Bhd rose 1.2%.
Malaysia's economy grew at its slowest pace in two years in the July-September quarter as the country grappled with weak external demand and what the central bank called "supply shocks" for liquefied natural gas and palm oil.