SE Asia Stocks-Financials rebound; S'pore bounces from 1-wk low

* Banks lead gainers in Singapore, elsewhere in region

* Malaysia near 2-week highs; Manila almost at 1-month high

* Vietnam bucks the trend, falling to 6-week low

By Viparat Jantraprap

BANGKOK, July 14 (Reuters) - Most Southeast Asian stock
markets gained ground on Tuesday, with Singapore bouncing from
a one-week low after strong second-quarter economic data and
Malaysia near a two-week high, with financials among advancers.

However, continuing concern about the pace of the global
economic recovery would continue to keep Asian shares in check,
dealers said, although a rally in U.S. stocks helped revive
buying interest on the day.

Singapore's index .FTSTI rose 1.9 percent, erasing
Monday's 1.8 percent fall as banks recouped recent losses after
news the city state had recovered from its worst recession and
upgraded its economic outlook due to rising drug output and
construction.

DBS Group (DBSM.SI), Southeast Asia's biggest lender,
Oversea-Chinese Banking Corp (OCBC.SI) and United Overseas Bank
(UOBH.SI) each gained more than 2 percent.

Financial buying also pushed Malaysia's main index .KLSE
up 1.5 percent to its highest level since July 2, with
Bumiputra-Commerce BUCM.KL and Public Bank (PUBM.KL) climbing
more than 3 percent each.

Thailand's SET index .SETI jumped 2.7 percent as banks
rebounded from Monday's sell-off caused by expectations of a
fall in second-quarter earnings.

"Fundamentally, Thai stocks are expensive but external
sentiment will continue to lead the local market," said Viwat
Techapoonpol, a strategist at Tisco Securities.

"Share prices globally are also pricey. The strong rebound
today came after recent sell-offs and on some upbeat earnings
expectations," he said.

Bangkok Bank BBL.BK gained 3.1 percent and Siam
Commercial Bank (SCB.BK) jumped 6.2 percent. Siam Cement
SCC.BK, which is expected to report good quarterly results
late this month, jumped to a two-week high and closed up 5.3
percent.

Shares in Thai energy firms also tracked a bounce in oil
prices, with PTT (PTT.BK) up 3.3 percent, PTT Exploration and
Production PTTE.BK up 3.3 percent and Banpu (BANP.BK) up 3
percent.

Indonesia .JKSE ended up 1.8 percent, with bank and
energy shares leading advancers. The second largest lender,
Bank Rakyat Indonesia (BBRI.JK), rose 4.6 percent and the
largest coal producer by market value, PT Adaro Energy Tbk
(ADRO.JK), jumped 5.5 percent.

The Philippine index .PSI, which earlier gained as much
as 1.2 percent to its highest since June 16, ended 0.4 percent
higher, with conglomerate Ayala Corp (AC.PS) rising 1.9 percent
and subsidiary Ayala Land (ALI.PS) climbing 1.2 percent.

Bucking the trend, Vietnam .VNI fell for a sixth day,
dropping 1.9 percent to its lowest since June 1, with Bao Viet
Holdings BVH.HM, the largest insurer, down 5 percent and PVFC
PVF.HM, the financial arm of Petrovietnam, down 4.3 percent.
($1=34.12 Baht)
(Editing by Alan Raybould)