Most Southeast Asian stock markets edged up on Thursday after key US indexes closed at record highs on Wednesday, but Indonesian shares continued to fall on disappointing economic data. Advances in US equities overnight helped lift sentiment, said Muhamad Alfatih, an analyst with Samuel Sekuritas in Jakarta. The Dow Jones Industrial Average and the S&P 500 Index both rose 0.6 percent, led by gains in energy and financial shares, following the Republican Party's election victory and solid US economic data.
The Philippine stock index led the region, rebounding from a two-day decline, with a 0.4 percent gain. GT Capital Holdings, a conglomerate group, gained 2.6 percent. Thai stocks rose 0.2 percent, with energy company PTT PCl rising 3.5 percent to its highest in more than three years, as the company expected to benefit from the government's plan to raise fuel prices.
Indonesian shares extended declines to a second session, ending 0.6 percent lower, following the country's 5.01 percent GDP growth in the third quarter, its lowest since 2009. Among the biggest decliners in Indonesia was PT Bank Rakyat Indonesia Tbk, the country's second largest bank by assets, that fell 2.5 percent. Coal miner PT Berau Coal Energy Tbk lost 3.2 percent to its lowest since June after Moody's downgraded its rating and put the company on review for further downgrade.
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