Asean stocks firmer
Southeast Asian stock markets firmed up on Friday as optimism over progress in Washington to avert a possible debt default helped to boost sentiment for risky assets in the region.
President Barack Obama and Republican leaders appeared ready to end a political crisis that has shuttered much of the US
government and pushed the country dangerously close to a default.
By 0644 GMT, the Philippines main stock index was up one per cent to a three-week high while Singapore’s Straits Times index, which is heading for its first weekly gain in the last three weeks, traded 0.7 per cent firmer at a more-than one-week high.
Thailand’s main index was up 0.5 per cent, trading at its highest level in two weeks.
"Sentiment is very positive for the time being, expecting Obama will deal with the debt default risk," said Teerada Charnyingyong, a strategist with Bangkok-based Phillip Securities.
Indonesia’s Jakarta Composite Index was up 0.6 per cent, its highest in more than two weeks, while Malaysia was up 0.7 per cent to a two-week high. Vietnam, the region’s best performer so far this year, gained 0.6 per cent, recovering from a one-week low.-- Reuters