Philippine stocks fall most in over 3 months

Philippine shares slumped 2.01% on Friday in their biggest percentage fall in over three months as investors booked profits after the previous session's gains, while most other Southeast Asian markets rose after lacklustre US retail sales data reduced prospects of a Fed rate hike next week.

Futures traders are now pricing in a 12% chance of a rate increase this month, down from 15% on Wednesday, according to CME Group's FedWatch tool.

Consumer price inflation data due later in the day is the next test for rates-focused traders.

The Philippine stock index was pulled down by consumer cyclicals and utilities, and posted a weekly decline of 0.4%.

SM Investments Corp and Aboitiz Equity Ventures Inc dropped 3.7% each.

Investors are taking profit from the last-minute "jolt" on Thursday, said Anton Alfonso, an analyst with RCBC Securities Inc, adding that local shares would track the movement in US markets in the coming week.

Singapore shares ended 0.78% higher, snapping four consecutive sessions of falls, with financials and energy stocks leading the gains.

DBS Group Holdings Ltd rose 1.3%, while Keppel Corp Ltd gained 0.8%.

Diminished prospects of a Fed rate hike boosted overall risk-on sentiment, said Vishnu Varathan, a senior economist with Mizuho Bank.

For the week, Singapore shares declined 1.6%.

Malaysia was closed for a public holiday.