The U.S. Federal Reserve held rates steady on Thursday but remained on track to continue gradually raising borrowing costs, pointing to healthy economic prospects that were marred only by a dip in the growth of business investment.
It has raised rates three times this year and is widely expected to do so again next month. According to the CME Group's FedWatch tool, the likelihood of Fed raising rates by another 25 basis points in December is 75 percent. [MKTS/GLOB]
Indonesian shares <.JKSE> snapped an eight-session winning streak and closed 1.7 percent weaker at a one-week low. For the week, the key stock index fell 0.5 percent.
Consumer non-cyclicals were the biggest drag on Friday with Unilever Indonesia shedding 4.7 percent to its lowest close since mid-January 2017.
Philippine shares <.PSI> declined about 1 percent to a 2-week closing low, hurt by losses in telecom and industrial stocks. For the week, the key stock index fell 1.2 percent.
Globe Telecom fell 5.2 percent to its lowest close since mid-July, while construction firm DMC Holdings Inc shed over 1 percent.
Singapore shares <.STI> fell with industrial and energy stocks being the biggest drag.
Conglomerate Jardine Matheson Holdings dropped 0.6 percent, while Keppel Corp shed 1.6 percent.
Thai shares <.SETI> declined 0.8 percent, weighed down by energy stocks as crude prices fell to multi-month lows, pressured by rising supply and concerns of an economic slowdown. [O/R]
PTT PCL slipped 1.5 percent, while Thai Oil fell 4.7 percent after reporting a 40 percent drop in quarterly net income.
Malaysian shares <.KLSE> closed 0.8 percent lower with material stocks leading the decline. Press Metal Aluminium Holdings fell 2.4 percent, while chemicals producer Petronas Chemicals Group closed 1 percent lower.
(Reporting by Nikhil Subba; Editing by Subhranshu Sahu)
By Nikhil Subba
