SINGAPORE, July 11 — Most South-east Asian stock markets moved sideways today in thin trade as investors remained cautious ahead of US Federal Reserve Chair Janet Yellen's monetary policy testimony, which may offer clues on when the Fed would tighten its monetary policy.

Yellen's semi-annual testimony to Congress tomorrow and Thursday, may give further indication on the timing of the third Fed rate hike for the year, said Grace Aller, an analyst with Manila-based AP Securities.

"A Fed rate hike can further dampen appetite for emerging markets as it points to further strengthening in the investment environment for developed markets,” she said.

Singapore was the biggest decliner in South-east Asia, shedding as much as 0.6 per cent, dragged by losses in telecom, industrial and real estate stocks.

Index heavyweights Singapore Telecommunications and Jardine Matheson Holdings were among the top decliners on the index, falling as much as 1 per cent and 1.5 per cent, respectively.

Thai shares fell as much as 0.3 per cent before paring some of the losses, with convenience store operator CP All Pcl dropping 3.6 per cent, set for its fifth straight session of losses.

Philppine shares edged up 0.3 per cent in early trade, helped by industrial and real estate stocks.

Philippine exports rose for a sixth straight month in May, growing 13.7 per cent from a year ago, while imports climbed 16.6 per cent.

International Container Terminal Services was among the biggest gainers on the index, climbing as much as 2.6 per cent, after signing an agreement with a dredging company to deepen the Congo River in Africa, a move that would realise cost savings for the terminal operator from 2018.

Property developer Ayala Land rose as much as 1.6 per cent to its highest in nearly three weeks.

Indonesian shares slipped marginally to touch a three-week low, pulled down by financial stocks.

Malaysia and Vietnam were largely flat. — Reuters