SE Asia Stocks-S'pore hits one week high; Indonesia falls again

* S'pore hits one week high

* Banks push Malaysia to new two week highs

* Electronic shares gain in Bangkok, Indonesia bucks trend

By Viparat Jantraprap

BANGKOK, Oct 8 (Reuters) - Southeast Asian stock markets
were mostly higher on Thursday, as property heavyweight
CapitaLand led Singapore to a one-week high and Malaysia
hovered at two-week highs on financial-led buying.

Singapore's index .FTSTI gained 0.6 percent to its
highest since Oct. 1, Malaysia's index .KLSE added 0.9
percent to its highest since Sept. 23, while Thailand's index
.SETI closed up 0.3 percent at 15-month highs.

Outperformers in the city-state were led by a 3.7 percent
gain in top developer CapitaLand (CATL.SI) and a 2.7 percent
rise in gaming group Genting Singapore (GENS.SI).

In Kuala Lumpur, financials advanced with CIMB Group
(CIMB.KL) rising 4.5 percent, Public Bank (PUBM.KL) up 2.8
percent and Malayan Banking (MBBM.KL) 0.6 percent higher.

Top Glove (TPGC.KL) climbed 2.3 percent after it posted a
126 percent increase in fourth quarter net profit.

Electronic shares led gainers in Bangkok on expectations of
a stronger performance in the second half, analysts said.

Cal-Comp Electronics CCET.BK surged 6.6 percent, Delta
Electronics DELT.BK was up 3.4 percent and KCE Electronics
KCE.BK was 0.5 percent higher.

Some fund managers were cautious about the prospects of a
further rally in equities.

"Because the situation remains unstable. There is high
uncertainty about a recovery in the global economy and at home.
We are not sure now whether it will be V-shape or W-shape
recovery scenario," said Deputy Secretary Gerneral Variya
Wongpreecha at Thailand's second biggest state pension fund.

Bucking the trend, Indonesia's index .JKSE fell 1.2
percent, weighed down by a 4.6 percent in Bank Central Asia
(BBCA.JK) and a 1.2 percent loss in nickel miner International
Nickel Indonesia (INCO.JK).

Among weak spots, Southeast Asia's biggest
telecommunication company, Singapore Telecommunications
(STEL.SI), lost 0.7 percent to S$3.04 after Macquarie
downgraded its recommendation and cut the target price to
S$3.12 from S$3.53. [ID:nSIN431135]

Thailand's Yarnapund YNP.BK tumbled 5.6 percent after the
Thai auto parts maker projected a drop in sales and a net loss
for 2009 on weak demand.

Elsewhere, the Philippines .PSI edged down 0.03 percent,
with the Philippine Long Distance Telephone (PLDT) (TEL.PS)
falling 1.3 percent. Vietnam .VNI gained almost 1 percent,
with Construction firm Vinaconex VCG.HN 5.1 percent higher.
($1=33.35 Baht)
(Editing by Jason Szep)