Southeast Asian stock markets traded mixed on Wednesday as stocks in the Philippines rose on hopes of easing inflation while Indonesian shares were down after touching a fresh intraday record on Tuesday. The Philippines' main stock index closed 0.9 percent higher on Wednesday, its biggest single-day gain in a month. The index was supported by property stocks such as Ayala Land Inc, which gained 4 percent and Robinsons Land Corp which rose 2.8 percent.
Some investors are expecting inflation to ease, said Astro del Castillo, managing director of First Grade Finance Inc, an investment house in Manila. Philippines' February inflation data will be out on Thursday. "Interest rates will be flat for the rest of the year, which is good for the property sector," del Castillo said. The Vietnam market closed at its highest since November 17 on solid inflows into bluechips from both foreign and domestic investors. The Indonesian main stock index fell 0.5 percent after touching a new intraday high on Tuesday at 5,499.77. Indonesian state-controlled coal miner PT Bukit Asam Tbk lost 2 percent after reporting lower 2014 profit, erasing some of its 4.3 percent gain in the past three days. Singapore closed 0.2 percent lower, while Malaysia rose 0.2 percent. The Thai stock market is closed for a public holiday on Wednesday.