Oct 9 (Reuters) - Most Southeast Asian markets were down in
early trade on Wednesday, led by the Philippines as the U.S.
budget deadlock hit investor confidence that a deal would be
reached before a mid-October deadline to avoid an historic debt
While investors expect U.S. politicians will eventually
strike a deal, they are getting nervous as the deadline nears
without any tangible progress between Democrats and Republicans.
By 0652 GMT, the Philippines main stock index was
down 1.23 percent, Malaysia 0.3 percent weaker and
Vietnam lower 0.4 percent.
"Investors are waiting for some directions on the U.S. debt
ceiling and we see mild trade," said Teerada Charnyingyong, a
strategist with Bangkok-based Phillip Securities.
She said the financial markets and the global economy will
be in chaos if the United States could not avoid the debt
Thailand's SET index was flat, while Indonesia's
Jakarta Composite Index and Singapore's Straits Times
index were up 0.4 percent and 0.3 percent,
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SOUTHEAST ASIAN STOCK MARKETS
Change at 0652 GMT
Market Current Prev Close Pct Move
TR SE Asia Index* 408.65 409.92 -0.31
Singapore 3156.78 3146.50 +0.33
Kuala Lumpur 1771.62 1777.50 -0.33
Bangkok 1433.97 1434.06 -0.01
Jakarta 4448.12 4432.51 +0.35
Manila 6375.47 6454.86 -1.23
Ho Chi Minh 500.47 502.22 -0.35