Indonesian stocks fell about 1 percent on Wednesday after they touched a record in the previous session, while Thailand extended gains as its central bank raised growth forecasts while standing pat on rates. The Indonesian index, which hit a record closing high on Tuesday, snapped six straight sessions of gains, as consumer stocks lost ground, with heavyweights Unilever Indonesia and Astra International falling about 2 percent each.
An index of the country's 45 most liquid stocks dropped 1.4 percent. Thai shares closed 0.3 percent higher after hitting a near 24-year high earlier in the day.
Thailand's central bank held key rates steady as expected, but raised its economic growth forecast for this year to 3.9 percent from 3.8 percent, and its 2018 projection to 3.9 percent.
Malaysia reversed losses from the previous session to close 0.6 percent higher, with CIMB Group Holdings surging 3.7 percent and Public Bank up 1.1 percent. Malaysia's annual inflation rate in November came in line with forecasts, but was down from the 3.7 percent recorded in October.
In the Philippines, shares were little changed as investors digested details of an ambitious tax reform bill, with losses in real estate and financial stocks offsetting gains in telecom stocks. Singapore ended 0.3 percent lower, with losses seen across the board.
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