SE Asian Stocks-Thailand posts biggest daily gain in 5 months

By Yvonne Cheong

SINGAPORE, June 20 (Reuters) - Thai stocks rebounded
strongly on Friday, posting their biggest single-day gain in 5
months, as investors were relieved anti-government protests had
not turned violent, lifting banks and energy stocks such as PTT
PTT.BK.

Thousands of protesters faced off with riot police around
Government House but there were no major incidents of violence.
[ID:nBKK283007]

Thailand's benchmark stock index .SETI rose 3.56 percent
on Friday but was still 1.76 percent lower for the week. The
last time stocks posted a stronger daily gain was in January
this year.

"You had a heavy selling period, consecutive selling, you
know it's taking a breather," said Andrew Stotz, Head of
Research at CLSA Securities in Thailand.

"The time that you probably make money in Thailand is when
you buy when it looks the worst, and you sell when it looks the
best, and right now it's looking pretty bad."

Beta plays PTT PCL and Bangkok Bank BBL.BK closed 5.5 and
4.5 higher on Friday, but lost 3.8 percent and 0.9 percent this
week.

Thailand's biggest refiner Thai Oil TOP.BK also boosted
the index when it spiked 14 percent on expectations of strong
quarterly earnings. [nBKK289040]

Analysts said the delicate political situation could weigh
on stocks across the board for some time, and foreign investors
have bailed out this week so as to re-enter at cheaper prices.

Other Southeast Asian markets were also lower for the week,
but Singapore .FTSTI edged 0.3 percent higher on Friday,
while Malaysia .KLSE gained 0.9 percent.

Vietnam .VNI fell 1.9 percent, a day after its trading
band was widened from 2 to 3 percent. Indonesia .JKSE was off
0.05 percent and the Philippine index .PSI eased by half a
percent.

In Singapore, property heavyweight CapitaLand (CATL.SI)
jumped 6.3 percent to more than recover losses earlier this
week after the government said it was reducing the number of
development sites in the next six months. [ID:nSIN165952]

Rivals Keppel Land (KLAN.SI) and City Developments
(CTDM.SI) also gained 1.4 and 0.4 percent, respectively.

In Malaysia, mobile phone company TM International
TMIT.KL and conglomerate Sime Darby (SIME.KL) led gains,
rising 3.7 and 1.6 percent.

Sime Darby's property unit said it was not delaying the
launch of new projects despite higher costs and weaker
prospects. [ID:nSP90201]

(Additional reporting by Ploy Chitsomboon, Editing by
Jacqueline Wong)