Asean stocks mixed
Thailand and Indonesia ended weaker on Monday, while other Southeast Asian markets ended mixed as investors stayed away, preferring a 'wait and see' approach due to the lingering US budget standoff.
Signs of growing intransigence among US lawmakers in crucial budget and debt ceiling talks hit investor sentiment globally.
Thailand’s main stock index lost 0.9 per cent led by energy shares with PTT Exploration and Production PCL falling 1.8 per cent, while Singapore’s Straits Times index closed 0.05 per cent down at a near four-week low.
Indonesia’s Jakarta Composite Index finished 0.3 per cent down to a near one-week low, after the World Bank revised down its GDP growth forecast for the largest economy in Southeast Asia.
Analysts said the US budget impasse has hit sentiment and appetite for the region’s risky assets.
Bucking the trend, Philippines shares ended 0.8 per cent firmer to its highest close since September 24, while Vietnam’s benchmark VN Index ended 0.6 per cent up to its highest closing level in nearly seven weeks.-- Reuters