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SE Asia Stocks-Most weaker; US budget impasse weighs

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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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