SE Asia stocks muted as Trump's policies cause concern

Southeast Asian stock markets were sluggish in lacklustre trade on Monday as US President Donald Trump's travel ban increased concerns about the impact of the new administration's policies on trade and the economy.

Trump on Friday barred refugees for four months, with an indefinite ban on refugees from Syria and a 90-day bar on citizens from seven other nations.

Philippine shares ended 0.04% higher, posting a third session of gains supported by real estate and financial stocks. Ayala Land rose 1.4%, while Ayala Corp climbed 2.4%.

Indonesia reversed early gains to finish the session 0.2% lower with consumer discretionary shares accounting for nearly half the losses on the index.

Astra International Tbk slid as much as 2.5% to its lowest since Dec 29, 2016.

While investors are still nervous about US policies, there is a raft of key data being released this week including central bank decisions in Japan, the United States and the UK.

"All three central banks are expected to keep monetary policy unchanged as they wait and watch for progress towards stimulatory policies in the US and the potential flow-on effects," said James Woods, global investment analyst at Rivkin Securities, in a note.

Vietnam, Malaysia and Singapore markets are closed for a public holiday.