Most Southeast Asian stock markets rose in light trading on Tuesday, with oversold Indonesian shares regaining some recent lost ground amid foreign-led buying, but the regional risk appetite remained weak before a US Federal Reserve meeting. Indonesia's key index ended the day up 0.7 percent at 4,872.60 after Monday's slide to the lowest close in 13 months. Its 14-day Relative Strength Index was at 26.8 at the close, still in the oversold territory of 30 or below.
Foreign investors bought shares worth a net 200 billion rupiah ($14.98 million) after net selling in nearly every session this month, Thomson Reuters data showed. Indexes in Malaysia and Thailand closed a tad higher while the Philippines index notched up a 0.7 percent gain. Stocks in Singapore and Vietnam finished lower while Asian stocks slipped before a two-day policy meeting of the US Federal Reserve's monetary committee starting later in the day. Trading volumes in most Southeast Asian exchanges were mostly below a 30-day average as concerns about a possible US interest rate hike sooner than expected kept investors on the sidelines.