Malaysian shares ended slightly higher on Monday as favourable earnings underpinned buying in banks such as Public Bank, while Philippine shares regained some ground lost early as a Moody's upgrade lifted sentiment in banking stocks. Malaysia's main index ended at 1,672.56, above Friday's record close of 1,671.89. Public Bank, which reported quarterly earnings growth early in the month, extended gains for an eighth session, up 2.1 percent to a record 15.74 ringgit.
Banks outperformed the broader market in Manila after Moody's Investors Service upgraded the foreign currency deposit ratings of four Philippine banks, including BDO Unibank, which was up 1 percent. Weaker-than-expected third-quarter results of Southeast Asian firms have broadly weighed on sentiment in the region. Thai SET index edged down 0.17 percent after last week's 1.1 percent fall. Singapore fell 0.9 percent to the lowest close in more than one month, with Citigroup saying that third-quarter corporate earnings will likely leave investors with weakened expectations.
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