Southeast Asia stocks down on US election

Southeast Asian stock markets ended lower on Wednesday, tracking Asian peers, with the Philippines losing over 2% as the likelihood of a tight US presidential race and concerns over the outcome of the Federal Reserve meeting spooked sentiment.

A latest Reuters/Ipsos poll showed Democratic presidential nominee Hillary Clinton's lead narrowing slightly, over new developments that could weigh against her.

Markets also awaited the outcome of a Fed policy meeting for cues on interest rates later in the day, although a rate hike is seen as unlikely before December.

MSCI's broadest index of Asia-Pacific shares outside Japan slid 1.2% to a seven-week low.

"Philippines continues to trek lower from last week and I think it's because some investors are pulling money ahead of the Fed meeting conclusion today," said Ralph Christian Bodollo, an equity research analyst with RCBC Securities Inc.

The Philippine index posted an eighth straight session of losses, led by financials and utilities, with conglomerate SM Prime Holdings Inc losing 2.6%.

"The surprise decision by the BoJ to stand pat on its monetary policy might also be one of the reasons Philippines is down," Bodollo added.

The Bank of Japan held off on expanding stimulus on Tuesday, signalling that it would keep policy unchanged unless a severe shock threatens to derail a fragile economic recovery.

Singapore stocks ended lower for a fourth consecutive session, weighed down by energy and industrial stocks, with Keppel Corp Ltd falling 0.9%.

Global Logistic Properties Ltd ended 8.7% higher after rising as much as 14.5%, a record intraday percentage gain.

The company has attracted takeover interest from an investor group that includes sovereign wealth fund China Investment Corp, Bloomberg reported.

All other southeast Asian markets ended lower.