SE Asia Stocks-Indonesia scales all-time high; Thai stocks up

* Thai stocks at 33-month peak; Q2 GDP tops forecasts

* Malaysia, Phillippines hover around 2-½ year high

* Indonesia, Thailand add smaller net inflows

By Viparat Jantraprap

BANGKOK, Aug 23 (Reuters) - Thai stocks edged higher on
Monday to their highest in 33-months after better-than expected
second-quarter economic data and an improving outlook.

Thailand's economy unexpectedly grew in the second quarter
from the first as a surge in exports offset deadly political
unrest, cementing expectations interest rates will rise further
this year. [ID:nSGE67M06A]

The state planning agency also raised its 2010 GDP growth
projection to 7.0-7.5 percent from its forecast in May of
3.5-4.5 percent. [ID:nBAK003105]

Thai SET index .SETI inched up 0.1 percent. The Thai
market outperformed Southeast Asian bourses last week when it
gained a combined $195.9 million of net foreign inflows,
recording net inflows for the year for the first time since the
middle of May.

Net inflows were a tiny $6.31 million for the session,
according to the exchange data. Several analysts said they see
values in Thai stocks.

"We've seen a significant rise in equity values in the last
1 to 1 ½ months but Thai stocks look likely to remain
attractive for quite some time on a relative valuation basis,"
said Rahul Bajoria, Economist at Barclay's Capital Singapore.

Among gainers, Siam Cement SCC.BK rose 1.5 percent. It
was among operators of halted projects expected to be excluded
from the list of industrial projects deemed harmful to the
community and environment at Thailand's biggest industrial
estate.

Thai Prime Minister Abhisit Vejjajiva said the government
would announce the list in the next one or two days.
[ID:nWNAS9208]

Investors booked profits in energy PTT PTT.BK, which fell
0.8 percent. A senior official at the Energy Ministry said late
on the day that PTT's gas separation plant at the Map Ta Phut
industrial estate is not on a list of harmful industries.
[ID:nWNBS0775]

Economic optimism continued to boost investor appetite in
the region, sending Malaysia .KLSE and the Philippines .PSI
each to a 2-½ year high with each adding about 0.6 percent.

Indonesia .JKSE rose 0.35 percent to close at 3,128.73,
topping its record high set on Friday. Asia's second-best
performing bourse had $7.29 million net inflows on the session,
with capital flows for the year rising to $1.63 billion,
according to Thomson Reuters' data.

Bucking the trend, Singapore .FTSTI was down 0.36 percent
and Vietnam .VNI lost 1.5 percent.

Several Southeast Asian stock markets closed above their
5-day moving average, showing a near-term buy signal, including
Thaiand's 5-day moving avearage of 886, Malaysia's 1,390.91,
Indonesia's 3,101.12 and Philippines' 3,569.63.

Among weak spots in Singapore, Wilmar (WLIL.SI), the
world's largest listed palm oil firm, fell 0.3 percent.

It announced its subsidiaries will acquire the business of
a Singapore sugar trading company, Windsor & Brook Trading, and
all of the shares of PT Jawamanis Rafinasi, which owns sugar
refineries in Indonesia. [ID:nSGE67L03C]

In Kuala Lumpur, Telekom Malaysia Bhd (TLMM.KL) gained 0.9
percent. It released after market close a second-quarter net
profit of 124.38 million ringgit, versus 265.97 million ringgit
a year ago. [ID:nWNAS9211]
(Additional reporting by Martin Petty in Bangkok)