SE Asia Stocks-Thai stocks rebound; others mixed

Reuters

BANGKOK, Nov 5 (Reuters) - Thai stocks climbed 1.4 percent

on Tuesday, helped by technical-led buying, while most other

Southeast Asian stock markets pared some earlier gains as the

prospect of monetary tightening in China gripped Asian stock

markets.

Thailand's key SET index was up 1.38 percent at the

midday trading break, climbing at one point to 1,412.95 while

reversing a 2.9 percent drop in the previous session, the lowest

close in more than one month.

Shares beaten down in the previous session, such as airport

operator Airports of Thailand Pcl and True Corp Pcl

led the rebound.

Domestic political uncertainty would limit the market's rise

as protesters against a controversial amnesty bill would

continue to mobilise around Bangkok ahead of the senate debate

next Monday, broker KGI Securities said.

"A crucial event that could lead to SET rebound is the

Senate rejecting the amnesty bill and sending it back to the

lower house," the broker said in a report.

Tension over the bill that could herald the return of former

premier Thaksin Shinawatra from self-exile weighed on other Thai

assets, including the baht.

Singapore's Straits Times Index rose 0.3 percent.

Buying was most active in Genting Singapore shares,

which rose 1.3 percent after the casino operator's adjusted core

profit topped market estimates.

In the Philippines, the key index eased 0.1 percent,

with shares of Philippine Long Distance Telephone Co,

the second-biggest firm by market value, dropping 0.2 percent

after the company posted a modest 2 percent rise in quarterly

profit.

Stock markets in Malaysia and Indonesia are

both shut on Tuesday and will resume trading on Wednesday.

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SOUTHEAST ASIAN STOCK MARKETS

Change at 0614 GMT

Market Current Prev Close Pct Move

TR SE Asia Index* 415.60 413.57 +0.49

Singapore 3213.76 3203.94 +0.31

Bangkok 1407.56 1388.40 +1.38

Manila 6538.27 6543.39 -0.08

Ho Chi Minh 498.29 497.07 +0.25

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