Southeast Asian stocks retreated on Wednesday after minutes from the US Federal Reserve suggested dwindling chances for more policy stimulus, dampening the prospect of more inflows to the region, while losses in mining stocks pulled down Indonesia.
Jakarta's Composite Index, which closed at a record high on Tuesday, dropped 1.9 percent, with the Jakarta Mining Index falling 1.7 percent after the government unveiled plans to impose export taxes on coal and base metals. Singapore fell 1 percent, while Malaysia's main share index, which also hit a record high on Tuesday, fell 0.5 percent. The Philippine index slipped 0.4 percent to around a one-week low ahead of a five-day weekend. Trade will resume on Tuesday.