Southeast Asian stock markets were mixed with an easier bias on Tuesday as market players cashed in any quick gains and remained focused on risks attached to the unresolved sovereign debt crisis in the eurozone. Late selling pulled some markets down from early highs but volume was light because of the holiday season.
Jakarta's Composite Index gave up an early rise to a one-week high, ending down 0.5 percent, while Singapore fell 0.14 percent and has now lost 18 percent this year. At 0900 GMT, the benchmark Thai SET index was up 0.18 percent but below an intraday two-week high struck earlier. "People tend to be bearish with a wait-and-see attitude. With such volatility in Asian markets, all we can look forward to is window-dressing by next week," said Jakarta-based analyst Purwoko Sartono of Panin Sekuritas.
The Philippine index edged up 0.6 percent, closing at its highest since November 17. Manila reported $47 million in foreign inflows in the three session to Monday, according to Thomson Reuters data. MSCI's broadest index of Asia-Pacific shares outside Japan inched up 0.12 percent by 0835 GMT.
In Bangkok, weak November trade data dampened sentiment in manufacturing shares, with electronic component maker Hana Microelectronic Pcl falling 1 percent and auto-parts maker Somboon Advance Technology Pcl easing 0.5 percent. Thailand reported a 12.4 percent contraction in exports in November from a year before and a 67.5 percent plunge in car sales as a result of severe flooding.
But Thai banks edged up 0.5 percent after Fitch Ratings said its outlook on the big lenders was stable despite the impact of severe flooding and potential risks from a global economic slowdown. In contrast, Malaysian bank CIMB Group Holdings Bhd eased 2.1 percent. A Fitch upgrade of Indonesian banks on Monday continued to lend support to financial shares there, with PT Bank Rakyat Indonesia Tbk, among the upgraded banks, rising 1.5 percent.