Oct 7 (Reuters) - Philippine and Thailand shares were firmer
on Monday, but other Southeast Asian markets were largely weaker
in early trade as investors stayed away, preferring a 'wait and
see' approach due to the lingering U.S. budget standoff.
By 0522 GMT, the Philippine stock index was 0.9
percent up at a near two-week high, while Thailand's main index
gained 0.2 percent.
Democrats and Republicans in the United States remained far
apart on ending the government shutdown, let alone reaching a
deal on the U.S. borrowing limit by Oct. 17 to avoid an
"It's a quite market with not much activity. Market and
investors are waiting to see any new development on the
shutdown," said Pichai Lertsupongkij, head of investment
advisory services at broker Thanachart Securities.
Other markets moved sideways with the Vietnam stock index
, the best performer in the region, up 0.3 percent, while
Malaysia and Singapore traded steady.
Indonesia's Jakarta Composite Index was trading 0.14 percent
down, after the World Bank revised down its GDP growth forecast
for the largest economy in Southeast Asia.
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SOUTHEAST ASIAN STOCK MARKETS
Change at 0524 GMT
Market Current Prev Close Pct Move
TR SE Asia Index* 409.04 409.19 -0.04
Singapore 3138.85 3138.08 +0.02
Kuala Lumpur 1776.19 1776.56 -0.02
Bangkok 1430.58 1427.72 +0.20
Jakarta 4382.99 4389.35 -0.14
Manila 6448.76 6390.48 +0.91
Ho Chi Minh 499.13 497.50 +0.33