BANGKOK, Oct 27 — Most Southeast Asian stock markets fell today as investors put money off the table ahead of the US Federal Reserve’s two-day meeting, with Singapore snapping a four-day rising streak and Indonesia retreating after two days of rallies.

Singapore’s Straits Times Index slipped 0.4 per cent after notching up 2 per cent of gains since Wednesday while Jakarta composite index dropped 1.2 per cent following Monday’s rise to a more than two-month high.

“Profit-taking will likely be the order of the day,” said broker NRA Capital in a report of Singapore’s stock market outlook.

Most other share markets also gave up their gains yesterday when inflows returned to the region after China’s central bank relaxed monetary policy, cutting interest rates on Friday for the sixth time in less than a year.

Kuala Lumpur composite index declined 0.6 per cent to a near one-week low. The Philippines eased 0.3 per cent following yesterday’s fifth straight gain to the highest close since August 18. Stocks in Thailand erased early session losses and was a tad up 0.02 per cent.

Vietnam increased 0.2 per cent, recovering from early weakness. Bangkok-based KGI Securities strategist Adisak Kammool expected limited upside of the benchmark SET index, putting 1,430 as a key resistance level, citing the Fed meeting among external factors.

“The market may want to wait and see how the US authorities hint on future monetary policy,” he said. Shares in the region had mixed performances in the quarterly reporting season most running through mid-November.

Malaysia’s DiGi.Com shed 4.2 per cent after it posted a fall in quarterly net profit, while Thailand’s Home Product Centre Pcl rose 0.7 per cent following a rise in quarterly net profit. — Reuters