Most Southeast Asian stock indices ended lower to flat in a light session on Monday as US budget uncertainty undermined global market sentiment, with the Philippines sliding to a near three-week low and Singapore retreating from 17-month highs. The Philippines Composite index posted a fourth-straight loss, ending down 1.5 percent and further off a record finish of 5,831.50 hit early last week. Singapore's Straits Times Index pared early gains to fall 0.3 percent.

Kuala Lumpur Composite Index was 0.2 percent lower, after posting a 2.1 percent gain last week, the region's second best performer. The Malaysian bourse said foreign investors were net sellers worth 13.6 million ringgit ($4.45 million). After a choppy session, Jakarta's Composite Index erased early loss to end up 0.16 percent. Thailand's SET index ended just 0.04 percent up, topping Friday's near 17-year peak of 1,358.50. The Bangkok stock market gained some support in the wake of buying from domestic institutions for retirement mutual funds (RMF) and long-term equity funds (LTF) which offer tax breaks and often see high demand towards the end of the year.

Copyright Reuters, 2012