Philippine stocks slip on Duterte's fresh anti-US tirade

Philippine shares erased early gains to close lower on Tuesday, extending losses to a fourth straight session, after President Rodrigo Duterte launched yet another tirade against the United States, while most other Southeast Asian markets ended lower.

President Duterte lashed out anew at the US expressing his resentment at having foreign troops in the Philippines and told the US to forget the bilateral defence deal if he stayed in power long enough.

Philippine shares closed 0.4% lower, weighed down by industrials and consumer discretionary stocks.

Property developer SM Prime Holdings was the biggest loser on the index, falling 2.8%, as strains in Washington-Manila ties impact the BPO-sector driven office property market.

Jollibee Foods Corp was the second biggest loser.

Indonesian shares were down around 0.4%, dragged down by financials and consumer non-cyclicals, with Astra International Tbk PT, down 1.5%, contributing most to the fall in terms of index points.