Thai shares  .SETI fell about 1 percent, underperforming other markets in the region, and were headed for their second session of declines in nine in thin trading.

Markets in Southeast Asia are experiencing a technical correction given that it is a Friday, said Mikey Macainag, an analyst with Manila-based Sunsecurities Inc, adding that investors were also factoring in the U.S. presidential elections.

Indonesian shares  .JKSE were down after two consecutive sessions of gains, hurt by financial and consumer discretionary stocks. Automotive conglomerate PT Astra International  ASII.JK fell 1.71 percent, while PT Bank Negara Indonesia (Persero) Tbk  BBNI.JK declined nearly 1 percent.

Since the rate cut by the Bank Indonesia has already been factored in over the last couple of days, there could be some profit-taking in stocks that have rallied this week, PT Trimegah Sekuritas Indonesia said in a note.

The central bank on Thursday escalated its efforts to spur lending by cutting its benchmark interest rate for the fifth time this year.

Philippine shares  .PSI were on track to snap four consecutive days of gains with industrials and financials leading the decline. JG Summit Holdings  JGS.PS dropped as much as 3.8 percent.

The country's central bank kept its policy interest rates unchanged on Thursday as expected, and lowered its inflation forecast slightly for the year.

Singapore shares  .STI were marginally down, heading for their third straight session of falls, ahead of August inflation data scheduled later in the day.

Vietnam  .VNI and Malaysia  .KLSE markets were almost flat.

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SOUTHEAST ASIAN STOCK MARKETS

STOCK MARKETS
Change at 0355 GMT  

Market                   

Current   

Previous Close 

Pct Move

 Singapore                

2844.17   

2846.06         

-0.07

 Bangkok                  

1491.66   

1505.99         

-0.95

 Manila                   

7709.44   

7762.35         

-0.68

 Jakarta                  

5374.716 

5380.262        

-0.10

 Kuala Lumpur             

1669.09   

1669.66         

-0.03

 Ho Chi Minh              

671.05    

671.38          

-0.05

Current   

End 2015        

Pct Move

 Singapore                

2844.17   

2882.73         

-1.34

 Bangkok                  

1491.66   

1288.02         

15.81

 Manila                   

7709.44   

6952.08         

10.89

 Jakarta                  

5374.716 

4593.008        

17.02

 Kuala Lumpur             

1669.09   

1692.51         

-1.38

 Ho Chi Minh              

671.05    

579.03          

15.89