SE Asia Stocks-Singapore, Malaysia down ahead of holiday

* Indonesia at 2-week lows; Thailand turns lower again

* Vietnam extends losses to near-4-month lows

* Manila bucks trend, c.bank to keep accommodative policy

By Viparat Jantraprap

BANGKOK, Nov 26 (Reuters) - Singapore stocks fell to
one-week lows on Thursday, weighed down by losses in big caps
and financials, while Indonesia slid to its lowest level in two
weeks as shares in the Bakrie group were hit by fund-raising
plans.

Markets in Southeast Asia tracked weakness in stock markets
in Shanghai .SSEC and Hong Kong .HSI, dealers said, as
Malaysia edged down 0.03 percent ahead of a market holiday on
Friday. Singapore is also closed on Friday.

Thailand declined 1.4 percent, while Vietnam .VNI lost
4.1 percent, still reeling from an interest rate rise and
devaluation on Wednesday.

The Philippines .PSI bucked the trend, up 0.8 percent as
its central bank said it would stick to its accommodative
monetary policy stance. Ayala Land (ALI.PS) rose 2 percent and
Metro Bank (MBT.PS) 3 percent.

Singapore's index .FTSTI ended down 1.1 percent at its
lowest since Nov. 20, with DBS Group (DBSM.SI), Southeast
Asia's biggest bank, 2.1 percent lower, and CapitaLand
(CATL.SI), the largest developer in the region, down 1.7
percent.

Indonesia .JKSE dropped 2.8 percent to its lowest since
Nov. 11, as shares in Bakrie group companies tumbled on the
group's fund-raising plans, with coal miner Darma Henwa
(DEWA.JK) dropping 18 percent after it said it would raise
624.4 billion rupiah ($66 million) from a rights issue.

Holding company Bakrie & Brothers (BNBR.JK) lost 8 percent
and coal miner Bumi Resources (BUMI.JK) dropped 8.7 percent.
They announced issues of bonds to raise $250 million and $300
million respectively.

In Kuala Lumpur, telecoms firm Maxis (MXSC.KL) and shipping
firm MISC (MISC.KL) each gained more than 1 percent while
Malayan Banking (MBBM.KL) eased 1.3 percent.

Bangkok was still suffering from political uncertainty. On
Wednesday, the postponement of an anti-government rally pushed
the market up nearly 3 percent.

"The selling pressure was because the political picture is
still uncertain. Our view is the market will continue to move
in a narrow range in coming sessions because of the
uncertainty," said Viwat Techapoonpol, a strategist at Tisco
Securities, adding that it was a good time for investors to
pick up cheap stocks.

Among losers, PTT PTT.BK, Thailand's biggest energy firm,
fell 2.6 percent, PTT Exploration and Production PTTE.BK lost
2.7 percent and Advanced Info Service ADVA.BK dropped 3.3
percent.

Among bright spots, Siam Cement SCC.BK climbed 2.8
percent. Broker Citi rated the stock a "buy", citing its joint
venture investment in a petrochemical complex in Vietnam.

Siam Cement has signed a deal with state oil firm Qatar
Petroleum International to invest in a Vietnamese petrochemical
complex worth up to $4.0 billion. [ID:nBKK525879]

"Compared to its previous plan announced in 2008, the
current structure is better both from an operational and a
financial point of view," Citi's Amornrat Cheevavichawalkul
said in a research note.

"This investment should also give SCC 'first mover'
advantage in Vietnam, as the country is a net importer of
plastics and has no chemical complex at present," it said.

In Vietnam, the stock index fell below the 500 level to its
lowest since Aug. 7, 2009, with Vietcombank VCB.HM losing 5
percent and Vietinbank CTG.HM off 4.9 percent.
($1=9420 Rupiah)
(Editing by Alan Raybould)
((viparat.jantraprapaweth@thomsonreuters.com; +66 2 648 9733;
Reuters Messaging:
viparat.jantraprapaweth.thomsonreuters.com@reuters.net))
((If you have a query or comment on this story, send an email
to news.feedback.asia@thomsonreuters.com))
FACTORS TO WATCH: Manila c.bank says can stick to policy
stance [nMNB002528] Philippines Q3 growth slow; bond
yields fall [nSP95980] Ho Chi Minh Stock Exchange
closes down 4.13 pct [nHAN529057] Vietnam dong tests new low
in interbank mkt [nSP524511] Indonesia's Energi Mega
falls on rights issue plan [nJAK322384] Palm at new 15-wk top
as exports may outweigh output[nKLR270986]
For South East Asia Hot Stock reports, click;
[.SI] [.KL] [.BK]
SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Prev Close Pct Move
Singapore 2762.22 2792.84 -1.10
Kuala Lumpur 1270.61 1271.00 -0.03
Bangkok 685.73 695.69 -1.43
Jakarta 2393.52 2461.53 -2.76
Manila 3089.82 3064.30 +0.83
Ho Chi Minh 482.60 503.41 -4.13
Change on year
Market Current End prev yr Pct Move
Singapore 2762.22 1761.56 +56.81
Kuala Lumpur 1270.61 876.75 +44.92
Bangkok 685.73 449.96 +52.40
Jakarta 2393.52 1355.40 +76.59
Manila 3089.82 1872.85 +64.98
Ho Chi Minh 482.60 315.62 +52.91
Stock Market Volume (shares)
Market Current Volume Average Volume 90 days
Singapore 252,314,200 363,500,436
Kuala Lumpur 91,824,100 103,343,986
Bangkok 2,786,352 4,640,718
Jakarta 5,944,467,000 5,458,594,989
Ho Chi Minh 40,270 63,722
ASIA-PACIFIC STOCK MARKETS:
Pan-Asia........[STXNEWS/AS] Japan.......[.T]
S.Korea...[.KS]
S.E. Asia.......[.SO] Hong Kong...[.HK]
Taiwan....[.TW]
Australia/NZ....[.AX] India.......[.BO]
China.....[.SS]

OTHER MARKETS:
Wall Street....[.N] Gold .......[GOL/]
Currency..[FRX/]
Eurostocks.....[.EU] Oil ........[O/R] JP
bonds...[JP/]
ADR Report .....[ADR/] LME metals.[MET/L] US bonds..
[US/]
Stocks News US..[STXNEWS/US] Stocks News Europe
[STXNEWS/EU]

DIARIES & DATA:
IPO diary & data <SG/IPOMENU> Asia earnings diary
[ASIA/EQTY]
U.S. earnings diary [RESF/US] European diary
[WEU/EQTY]
Singapore diary [SG/DIARY] Wall Street Week Ahead
[.N/O]
Eurostocks Week Ahead [.EU/O]

TOP NEWS:
For top Asian company news, double click on: [nTOPEQA]
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