The Singapore index ended almost flat on Wednesday, taking its gains for 2014 to 6.2 percent, while Malaysian shares were trading slightly higher but heading for losses on the year to become Southeast Asia's worst performer. Singapore's key Straits Times Index ended down 0.03 percent at 3,365.15 on the final trading day of the year. It was the region's second worst performer in 2014.
Global Logistic Properties Ltd and CapitaLand Ltd were the top performers of the day, with both rising 1.2 percent. Commodities firm Olam International fell nearly 3 percent. Malaysia's main stock index was up 0.10 percent, but was on track for a fall of more than 5 percent on the year, compared with a gain of 10.5 percent in 2013 when it outperformed most markets in the region.
Vietnam's benchmark VN Index was up 1.2 percent at mid-day and was poised for a gain of nearly 8 percent for the year, its third straight annual rise. The index rose 22 percent 2013 and was the region's best performer. The gain was supported by insurance, transportation and property stocks, following lower oil prices. Baoviet Holdings, Vietnam's largest insurer, rose 4.61 percent, while property developer HAGL gained 3.85 percent.
The Thai stock market will be closed from December 31 through January 2 for the New Year and will reopen on January 5. Indonesia will be closed on December 31 and January 1, with trading resuming on January 2, while the Philippines will remain closed through January 2.
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