Philippines stocks start year in bad way and Indonesia inflation hits 18-month high as Omicron worries continues to weigh

MANILA, Jan 3 (Reuters): Asian stocks were largely mixed on Monday, with Malaysian and Philippine equities falling the most, while currencies weakened as concerns over the Omicron variant and inflation pressured most emerging units on the first trading day of the year.

Malaysian shares declined as much as 1.2% to mark their worst intraday drop in two months as the country witnessed severe flood situation in several states, while stocks in South Korea, Indonesia and India logged modest gains.