SE Asian stock markets inch higher ahead of Fed, BoK meeting

Published: July 31, 2018 13:23:25 | Updated: August 03, 2018 10:03:28

Most of the Southeast Asian stock markets inched higher on Tuesday as global investors were awaiting cues from the Bank of Japan and the US Federal Reserve.

The Indonesian stock market slid after the country's largest telecom company reported a steep drop in first-half net income. Indonesian shares fell 1.6 per cent.

Philippine shares dropped 1.4 per cent after a five-session winning run as index heavyweights Ayala Land and SM Investments Corp shed 3.1 per cent and 1.3 per cent, respectively.

Meanwhile, Thai shares were flat, with Advanced Info Service and Airports of Thailand PCL and Production PCL posting minor gains, reports Reuters.

Singapore shares gained a marginal 0.2 per cent as gains in financials outweighed losses in industrials.