Southeast Asian stocks slip tracking Asian peers

Most Southeast Asian shares fell in line with their Asian peers on Thursday after the US Federal Reserve kept most of its outlook for further interest rate hikes in 2019.

Malaysian and Indonesian shares suffered the worst losses in the region, falling 0.6 per cent and 0.5 per cent, respectively.

A fall in industrial stocks dragged Philippine shares lower on Thursday. Conglomerate SM Investments Corp and lender BDO Unibank Inc shed 1.7 per cent and 1.5 per cent, reports Reuters.

In Kuala Lumpur, palm oil producer Sime Darby Plantation Berhad slipped 2.5 per cent, while IHH Healthcare Berhad shed 3.5 per cent.

Indonesia's benchmark was pulled lower by financial stocks, with Bank Central Asia Tbk losing 1.9 per cent and Bank Mandiri (Persero) Tbk falling 0.3 per cent.

Thai stocks slipped 0.43 per cent as financial and telecom shares weighed. Lender Siam Commercial Bank PCL lost 0.4 per cent, while Total Access Communication PCL was off 0.6 per cent.

Bucking the trend, Singapore's benchmark saw modest gains, while Vietnamese stocks were little changed.