Most SE Asia stocks fall on profit-booking

Most Southeast Asian stock markets ended lower on Tuesday on profit-booking and caution ahead of a US Federal Reserve meeting, with the Philippine index posting its biggest single-day fall in more than four months.

Broader market sentiment was weak in Asia with participants waiting for clues on the pace of interest rate hikes in the United States after the Federal Reserve wraps up its two-day meeting on Wednesday.

"Traders are staying on the sidelines waiting for the Federal Reserve monetary policy decision this week. In the absence of major stimulus, we are most likely observing some profit taking," said Liu Jinshu, director of research at NRA Capital.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2%.

Philippine shares dropped 1.6%, their biggest percentage fall since May 10, weighed down by financials and industrial stocks.

SM Investments and conglomerate Ayala Corp were the top losers, down 2.4% and 3.8%, respectively.

Singapore shares fell 0.5%, dragged by top lenders Oversea-Chinese Banking Corporation and United Overseas Bank.

Indonesia stocks rose 0.2%, helped by gains in energy and financial stocks, while an index of Indonesia's 45 most liquid stocks rose 0.3%.

Mining contracts provider United Tractors Tbk gained 1.3%, while Bank Central Asia Tbk was up 0.5%.