SE Asia stocks subdued ahead of ECB meeting

Most Southeast Asian stock markets fell on Thursday after two straight sessions of gains, while the Stock Exchange of Thailand posted its highest close in nearly two weeks.

Investors were watchful before the final US presidential debate in the early session, and will keep an eye out for the European Central Bank policy meeting later in the day.

The debate was judged to have given no clear boost to Republican Donald Trump's hopes of winning the White House race.

A win for Democrat Hillary Clinton next month - now predicted clearly by polls - is also seen as opening the way for a rise in interest rates which a number of US Federal Reserve policymakers have all but promised for December.

Investors will also be focused on whether ECB President Mario Draghi will give any indications that the central bank will begin tapering its bond purchase programme.

Oil prices dipped on profit-taking, after rallying in the previous session on a surprisingly large drop in crude oil inventories.

Thai shares closed 0.43% higher in their third straight session of gains, led by energy stocks.

Other Southeast Asian markets fell, with Vietnam declining the most, led by financials and consumer non-cyclicals.

Real estate company Vingroup JSC and Vietnam Dairy Products JSC lost the most in their respective sectors.

Indonesian shares declined for the second straight session, while Philippine stocks fell as investors booked profits after two consecutive sessions of gains.

The industrial sector fell the most, with Ayala Corp and DMCI Holdings shedding over 1% each.