SE Asia Stocks-Firmer on hopes of breakthrough in US budget impasse


Oct 10 (Reuters) - Most Southeast Asian markets were firmer

in early trade on Thursday, led by the Philippines and Thailand

as investors grew hopeful that U.S. politicians will resolve in

coming days the fiscal impasse that has sapped market


U.S. House of Representatives Republicans are considering

signing on to a short-term increase in the government's

borrowing authority to buy time for negotiations on broader

policy measures, according to a Republican leadership aide.

By 0655 GMT, the Philippines main stock index,

recovering from a one-week low, was up 0.91 percent, while

Thailand's main index was 0.7 percent firmer, trading at

its highest level since Sept. 23, led by banks.

"We are waiting to see what is going to come from the

corridors of Washington. Investors are also waiting for Chinese

macro numbers," said Song Seng Wun, an economist at CIMB, based

in Singapore.

He said markets are also waiting for a raft of earnings for

the September quarter.

Indonesia's Jakarta Composite Index was up 0.7

percent to a two-week high, while Singapore's Straits Times

index traded 0.5 percent firmer at its one-week high.

Malaysia was up 0.4 percent. Vietnam, the

region's best performer so far this year, bucked the trend and

was trading 1 percent down as investors were cautious, awaiting

third-quarter business results from companies, analyst said.

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Change at 0655 GMT

Market Current Prev Close Pct Move

TR SE Asia Index* 411.27 408.99 +0.56

Singapore 3169.03 3154.84 +0.45

Kuala Lumpur 1775.45 1769.12 +0.36

Bangkok 1445.13 1434.66 +0.73

Jakarta 4487.87 4457.44 +0.68

Manila 6433.42 6377.75 +0.87

Ho Chi Minh 495.46 500.67 -1.04

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