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
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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SOUTHEAST ASIAN STOCK MARKETS
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