Most Southeast Asian stock markets eased on Tuesday with Singapore falling from a one-year high, but foreign investors bought into equities in Indonesia and Malaysia amid hopes that Europe will take further action to tackle its debt crisis helped sentiment.
Singapore's Straits Times Index fell 0.1 percent from a one-year high as property developer CapitaLand Ltd came off 2.2 percent after its chief executive sold one million shares. Jakarta Composite Index lost 0.5 percent and Malaysia ended 0.5 percent weaker from its near three-week high, both in strong volumes.
Despite losses, Indonesia saw foreign inflow of $12.7 million, while Kuala Lumpur enjoyed a net foreign buying of $5.93 million. Thailand, bucking the trend ended steady. The Philippines, the region's best performer this year, was closed after the weather bureau raised the highest rainfall warning over the capital Manila.
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