Southeast Asian stocks dip as markets await Fed rate review

Published: January 30, 2019 12:33:30 | Updated: February 01, 2019 11:43:21

File Photo (Collected)

Southeast Asian stocks were lower to little changed on Wednesday as investors awaited the US Federal Reserve's policy review and looked toward trade talks between Washington and Beijing.

Philippine shares fell as much as 1.1 per cent in lacklustre trade to hit a one-week low on broad-based losses.

Index heavyweights SM Investments Corp fell as much as 1.5 per cent, while BDO Unibank Inc lost as much as 2.4 per cent, reports Reuters.

Malaysian shares fell about 0.2 per cent as gains in consumer cyclicals and industrial stocks were outweighed by losses in utilities and financial stocks.

Malayan Banking Bhd and Hartalega Holdings were the biggest drag on the index, losing as much as 1.3 per cent and 1.8 per cent, respectively.

Meanwhile, Indonesian stock market climbed as much as 0.4 per cent, helped by gains in technology and utilities stocks.