Indonesia, Philippine stocks fall on profit-taking


A logo of the Singapore Stock Exchange is pictured outside its premises in the financial district. (Reuters file photo)

Indonesian and Philippine shares fell on Monday as investors chose to book profit after recent gains, while Malaysia hit its highest in nearly 22 months on the back of gains in telecom stocks.

The Jakarta Composite Index closed 0.1% lower following last week's record-setting spree with consumer and energy stocks leading the decline.

"I think it's just a bit of profit-taking," said Harry Su, an analyst with Bahana Securities in Indonesia.

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