Thai shares rebounded on Friday as selective buying in large-caps helped push the key index above the 1,600 mark, while the Indonesian benchmark hit a record closing high amid active buying in banking shares. Bangkok's SET index closed up 0.2 percent at 1,603.45, recovering from a modest loss on Thursday. It ended the week 0.8 percent lower after two straight weeks of gains.
PTT Global Chemical rose 1.3 percent, outperforming the energy subindex which was nearly unchanged. The gains came after PTTGC said it planned to spend $4.5 billion from 2015 to 2019, mostly on a petrochemical complex in Indonesia and another project in the United States as part of its foreign expansion.
The Jakarta composite index rose 0.2 percent to 5,400.10, surpassing its earlier closing peak of 5,390.45 set on Wednesday. It rose 0.5 percent on the week, a third straight week of gains. Bank Rakyat Indonesia gained 2 percent and Bank Mandiri climbed 1.3 percent, both hitting record closing highs and ranking among the top traded by turnover. Traders said the broad market sentiment got a lift after Indonesia's central bank cut its benchmark interest rate by 25 basis points to 7.5 percent late on Tuesday.
The Philippines' main index finished the day up 0.3 percent at 7,825.39, a record closing high. It advanced for a ninth successive week, adding 0.6 percent. The Philippine bourse said it brought in net foreign inflows worth 522.3 million peso ($11.8 million) on the day after a combined net 4.24 billion peso in the previous six consecutive sessions. The peso rose 0.1 percent to 44.175 per dollar, its strongest since February 6.
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