Subdued as U.S. political woes keep investors on sidelines

(Reuters) - Most Southeast Asian stock markets remained subdued on Monday as political uncertainty in the United States continued to dampen investors' risk appetite.

A cautious mood pervaded in broader Asia as market participants evaluated a government shutdown in the world's largest economy, as well as rumours of a change in its central bank head. Local trading volumes were also low in light of the holiday season. [MKTS/GLOB]

The Singapore benchmark index <.STI> was largely flat, as mild gains in financial stocks were offset by declines in industrial and consumer stocks. The index was set for its third straight session of losses.

Singapore Telecommunications' stock ranked among the largest intraday losers on the index, while that of banking heavyweight DBS Group rose about 0.5 percent.

The island state's bourse was slated to close early ahead of Christmas. Trading volumes stood at a fraction of their 30-day average.

Thailand's index was also largely flat, as shares of oil and gas explorer PTT PCL - which fell as much as 1.1 percent - declined in tandem with oil prices, while infrastructure developer Bangkok Expressway and Metro PCL stock supported the index by gaining as much as 4.6 percent.

Meanwhile, indexes of Vietnam <.VNI> and Malaysia <.KLSE> rose marginally, while Philippine <.PSI> and Indonesian <.JKSE> markets were closed until Wednesday.

(Reporting by Ambar Warrick in Bengaluru; Editing by Rashmi Aich)

By Ambar Warrick