BANGKOK, Oct 14 (Reuters) - Most Southeast Asian stock
markets retreated on Monday as investors locked in quick gains
in recently-rallying shares, wary of the budget impasse in the
U.S. and ahead of a market holiday for most exchanges in the
Singapore's Straits Times Index fell 0.6 percent,
with shares in commodity firm Noble Group Ltd down 2.5
percent, the top percentage loser on the key index. The stock
gained more than 2 percent last week, among the top performers.
The benchmark rose in early trade after Singapore said its
economy contracted an annualised 1.0 percent in the third
quarter, better than the forecast of a 3.4 percent contraction.
The Thai SET index fell 0.35 percent at the midday
trading break of 0530 GMT, led by utility firm Glow Energy Pcl
, while the Philippine index slid 0.6 percent,
with decliners including Aboitiz Power Corp.
Stocks in Malaysia and Vietnam were both a
tad higher after early falls.
Indonesia is shut on Monday and Tuesday, reopening
on Wednesday. Singapore, Malaysia and the Philippines will be
closed on Tuesday, with trading to resume on Wednesday.
Market players were on the defensive in part due to China's
weaker-than-expected export growth in September and worries over
the prospect of the third quarter GDP growth data due this week.
"There is the possibility the Chinese third quarter GDP
later this week could grow below market estimates. The U.S.
situation is even riskier after the upper house did not approve
the extension of the debt ceiling," strategists at broker
Maybank Kim Eng Securiteis wrote in a report.
Shares in broader Asia were weaker, with MSCI's broadest
index of Asia-Pacific shares outside Japan down
0.2 percent, as a possible U.S. debt default edged closer after
the failure of weekend talks in Washington.
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SOUTHEAST ASIAN STOCK MARKETS
Change at 0556 GMT
Market Current Prev Close Pct Move
TR SE Asia Index* 415.18 416.57 -0.33
Singapore 3161.92 3179.71 -0.56
Kuala Lumpur 1786.01 1785.75 +0.01
Bangkok 1452.64 1457.78 -0.35
Manila 6451.09 6489.80 -0.60
Ho Chi Minh 495.03 494.53 +0.10