SE Asia Stocks-Most higher; Malaysia at 3-week high

Reuters

BANGKOK, Oct 16 (Reuters) - Most Southeast Asian stocks

edged up on Wednesday, with the Malaysian benchmark hitting a

three-week high and the Vietnam index extending its gains from

the previous session, as hopes remained for a deal on the U.S.

budget and debt ceiling stalemate.

The Malaysian index rose 0.5 percent to the highest

level since Sept. 23, reversing Monday's small loss as the

market resumed trading after a holiday on Tuesday. Shares in RHB

Capital were the top percentage gainers.

Vietnam's benchmark VN Index rose 0.7 percent, led by

shares of banks including the Hanoi-based Vietcombank

and VietinBank.

Large caps outperformed across exchanges, including DBS

Group Holdings and Metropolitan Bank & Trust

which lifted Singapore and the Philippines.

Bucking the trend, Jakarta's Composite Index was

down 0.4 percent, amid profit taking in recent gainers such as

PT Telekomunikasi Indonesia.

The Thai SET index pared early gains in relatively

rangebound trade and was nearly unchanged at the 0530 GMT midday

break.

"Most people still expect a last minute deal by U.S.

politicians. On local issues, a few banks reported third quarter

earnings that were in line with expectations so impact to share

prices should be muted," said KGI Securities in a report.

Among the losers, shares in Tisco Financial Group Pcl

fell 1.2 percent after the lender reported a 2

percent quarter-on-quarter dip in its July-September earnings

but analysts said they were optimistic about the outlook.

"On a sequential basis, loan growth decelerated after the

end of the auto boom ... On a brighter note, non-performing

loans (NPLs) rose at a slower pace as used-car loan

delinquencies were better contained," said an analyst at CIMB.

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SOUTHEAST ASIAN STOCK MARKETS

Change at 0620 GMT

Market Current Prev Close Pct Move

TR SE Asia Index* 418.26 417.38 +0.21

Singapore 3172.36 3165.25 +0.22

Kuala Lumpur 1793.57 1784.76 +0.49

Bangkok 1473.31 1472.90 +0.03

Jakarta 4500.41 4519.91 -0.43

Manila 6500.75 6442.70 +0.90

Ho Chi Minh 499.77 495.72 +0.82

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