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
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
"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