Southeast Asian stocks slip ahead of Fed decision

Published: May 02, 2018 11:22:25 | Updated: May 03, 2018 14:05:14

Southeast Asian stock markets were mostly lower on Wednesday ahead of the US Federal Reserve's upcoming policy statement where investors await clues on the future pace of monetary tightening.

Malaysian stocks snapped a three-session gaining streak to fall 1.3 per cent on broad-based losses.

CIMB Group Holdings Bhd was the biggest drag on the index, falling as much as 4.0 per cent, while Axiata Group slipped 2.3 per cent, reports Reuters.

Indonesia fell 0.2 per cent, with United Tractors down 2.6 per cent, and Semen Baturaja sliding nearly 8.0 per cent.    An index of the country's 45 most liquid stocks was down 0.2 per cent.

Thai shares slipped 0.2 per cent as energy and real estate stocks weighed on the benchmark. Oil and gas company PTT Pcl was the biggest drag, down nearly 1.0 per cent.

Singapore was flat as gains in industrials were offset by losses in technology stocks. The index is hovering at a near 10-1/2-year high.

Philippine shares fell 0.2 per cent after three straight sessions of gains, while Vietnam dropped 1.2 per cent.  

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