JAKARTA, Dec 5 — Southeast Asian stock markets closed mostly higher today, with Malaysia rebounding from a 15-month low hit in the previous session, but still posting its worst week in more than three years due to declining oil prices.

Malaysia’s main stock index ended up 0.2 per cent today, but fell 3.9 per cent for the week, its worst since September 2011. Falling oil prices are expected to hurt the oil-exporting economy.

“The ringgit was hit badly because of concern on oil prices, the stocks are rebounding now,” said Andri Zakarias, an analyst with BNI Securities in Jakarta.

Shares of oil products trader Petronas Dagangan Bhd rose 5 per cent, rebounding from more than three-year lows on Tuesday.

In Indonesia, the main index rose 0.2 per cent on speculation of a possible credit rating upgrade from Standard & Poor after the government cut fuel subsidy. The index rose for the fourth consecutive week.

PT Astra International Tbk, the country’s largest auto distributor, gained 1.8 per cent.

Philippines fell 0.95 per cent. PAL Holdings Inc , the parent of flag carrier Philippine Airlines, fell 0.8 per cent. The airline cancelled some of its flights to central and southern Philippines due to Typhoon Hagupit.

 The Thai stock market was closed on Friday for a public holiday and will reopen on Monday. — Reuters