SET ends flat, posts best month since July 2016

Thai shares ended steady on Wednesday but marked its best month since July 2016, while Philippine stocks extended losses to a second session.

Asian stocks steadied after sliding on rising global bond yields, with MSCI's broadest index of Asia-Pacific shares outside Japan on course for a 6.6% monthly gain, its biggest since March 2016.

However, the US Federal Reserve's monetary policy statement due later in the day kept investors on guard.

"Bond yields in the US are rising, so there is a shift in funds from emerging markets back to the US," said Lexter Azurin from AB Capital Securities.

Foreign Institutional Investor (FII) net outflows for Philippines was US$39.4 million on Tuesday, while Indonesia recorded $88.9 million net outflows. Thailand's net outflows stood at $81 million in the previous session.

The Stock Exchange of Thailand main index ended flat, but rose 4.2% this month, its best since July 2016.

Energy stocks PTT Plc and PTT Exploration and Production Plc gained 1.6% each after Royal Dutch Shell said it would sell its Bongkot gas field stake to PTTEP for $750 million before tax.

Meanwhile, data showed private consumption contracted in December from the previous month while investment rose slightly, implying that a recovery in Southeast Asia's second-largest economy is still patchy.

Philippine shares ended 1.6% lower, after the previous session's 1.6% drop, as industrials fell, with SM Investment Corp shedding 6%.

The index, however, climbed 2.4% in January, its second straight monthly gain.

Indonesian shares firmed 0.5%, bringing the monthly gain to 3.9% after December's 6.8% surge.

Lender PT Bank Pan Indonesia climbed to a record close, while Telekom Indonesia finished 2.3% higher.

The index of the country's 45 most liquid stocks ended 0.2% higher.

Singapore shares closed 0.4% lower, with heavyweight Keppel Corp shedding 1.1%.

The index, however, gained 3.9% this month after a 0.9% decline in December.

Vietnam shares finished flat, marking a fifth consecutive monthly gain, with Petrovietnam Gas Joint Stock rising to a three-year closing high.

Malaysia was closed for a public holiday.