Indonesia, Philippines markets hit record high

Shares across Southeast Asia tumbled on Monday, as investors were unnerved by a spike in U.S. bond yields.

SINGAPORE: Most Southeast Asian stock markets rose on the last trading day of the year on Friday, with Indonesia scaling a new high for a third straight session and the Philippines extending gains to hit an all-time peak.

The Jakarta Composite Index climbed as much as 0.8 percent on continued optimism that the market was poised to provide significant yields in 2018.