Southeast Asian stock markets ended mostly lower on Monday with Indonesia and the Philippines coming off record highs amid subdued trading in the region as some Asian markets were still closed for Easter holidays. After a choppy session, Jakarta's Composite Index finished down 0.07 percent at 4,937.57, erasing earlier gain from an intraday record high of 4,953.39. The Philippine index eased 0.12 percent to 6,839.59.
Philippine shares ended the first quarter at a record high of 6,847.47 after the country won its first-ever investment grade rating from Fitch Ratings, which analysts said could possibly attract more capital inflows. Fitch also revised Support Rating Floors of eight Philippine banks after the sovereign upgrade.
Investors and analysts said any boost to local bonds, stocks or the peso is likely to be mild for now. Thailand's SET index fell 0.7 percent to 1,549.55, the worst performer on the day, led by PTT Pcl. Energy stocks were broadly weak as global oil prices eased after Chinese manufacturing data missed expectations. Bucking the trend, the Ho Chi Minh Stock Exchange's VN Index jumped 3 percent to 505.81 as investors bought bluechips on solid earnings in the first quarter.