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

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

on Thursday, led by Thailand on signs of progress in the U.S.

budget talks and as investors were hopeful that the fiscal

impasse, that has sapped market confidence, could be resolved.

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.

Thailand's main index rose for a third straight

session, ending 1.2 percent higher at a near three-week high led

by banks, while the Philippines index ended 0.9 percent

firmer, recovering from a one-week low.

Singapore's Straits Times index rose for a third

straight session, gaining 0.5 percent, to its highest close

since Oct. 1, led by gains in Jardine Strategic Holdings

and Jardine Matheson Holdings Ltd.

Indonesia's Jakarta Composite Index finished 0.7

percent up to a two-week high led by financials, while Malaysia

added 0.4 percent, also helped by financials.

Vietnam's benchmark VN Index underperformed the

region and was down 1.2 percent, led by PetroVietnam Gas Corp

as investors were concerned over possible hikes in oil

products prices, analysts said.

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SOUTHEAST ASIAN STOCK MARKETS

Change on day

Market Current Prev Close Pct Move

TR SE Asia Index* 412.57 408.99 +0.88

Singapore 3169.91 3154.84 +0.48

Kuala Lumpur 1775.92 1769.12 +0.38

Bangkok 1451.91 1434.66 +1.20

Jakarta 4486.68 4457.44 +0.66

Manila 6435.97 6377.75 +0.91

Ho Chi Minh 494.81 500.67 -1.17

Change on year

Market Current End prev yr Pct Move

TR SE Asia Index* 412.57 424.10 -2.72

Singapore 3169.91 3167.08 +0.09

Kuala Lumpur 1775.92 1688.95 +5.15

Bangkok 1451.91 1391.93 +4.31

Jakarta 4486.68 4316.69 +3.94

Manila 6435.97 5812.73 +10.72

Ho Chi Minh 494.81 413.73 +19.60

* The Thomson Reuters South East Asia Index is a

highly representative indicator of stocks listed in Indonesia,

Malaysia, the Philippines, Singapore, Thailand and Vietnam.

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