Southeast Asian stock markets ended mixed on Monday, with Indonesia retreating from last week's record high ahead of a market holiday, while Malaysia posted modest gains as foreign investors continued to buy into the laggard market. Jakarta's Composite Index was down 0.4 percent at 4,854.31, after a record close for a third straight session on Friday at 4,874.50. Investors sold recent gainers such as PT Perusahaan Gas Negara Tbk, which dropped 4.6 percent.
Shares in Perusahaan Gas Negara hit a record close of 5,450 rupiah on Friday amid optimism about its acquisitions to help boost growth. Indonesian markets will be shut on Tuesday for a national holiday, reopening on Wednesday. The Philippines edged down 0.3 percent at 6,813.95, hovering near the record close of 6,835.21 hit on March 6.
Kuala Lumpur's Composite Index gained 0.24 percent as foreign investors bought a net 318.68 million ringgit ($103 million), countering selling by retail and institutional investors, stock exchange data showed. Singapore's Straits Times Index edged up 0.1 percent, led by a 3.4 percent gain in Singapore Press Holdings Ltd after its plan to list a real estate investment trust. Losers in the city-state included Wilmar International Ltd, which fell almost 4 percent. A report that Norway's $710 billion sovereign wealth fund has pulled out of 23 Asian palm oil companies weighed on the stock.
Bangkok's SET index gained 0.7 percent to 1,577.65, a new 19-year high as investors bought index heavyweights, with PTT Pcl rising 2.4 percent and Advanced Info Service Pcl climbing 3.2 percent. The Ho Chi Minh Stock Exchange's VN Index gained 1.2 percent, regaining much of its lost ground. It fell 1.4 percent last week, when it was Southeast Asia's worst performer.