* Low interest rates bolster property shares
* Most indices recover some of last week's losses
* But financials weak after downbeat Moody's view
By Viparat Jantraprap
BANGKOK, June 26 (Reuters) - Singapore climbed near a
two-week high on Friday, rising for a third day and leading
most other Southeast Asian stock markets higher, with low
interest rates bolstering demand for regional property shares.
Investors continued to allocate more money to stocks
because of the low-rate environment and the prospect of a
gradual recovery in the global economy, while energy shares
rose after oil went above $71 a barrel.
"Economic stimulus packages initiated by governments
worldwide will remain a key market theme as they are sources of
market liquidity," said Warut Siwasariyanon, head of research
at Finansa Securities in Bangkok.
Markets in the region recovered part of last week's
losses,
led by Manila, which gained 3.3 percent on the week, reversing
from a 7.7 percent drop the week before, followed by Jakarta's
2.5 percent gain and Singapore's 2 percent.
Asian stock markets elsewhere also gained on Friday, with
the MSCI index of Asia-Pacific stocks outside Japan
.MIAPJ0000PUS up 1.8 percent by 1000 GMT.
Singapore's index .FTSTI ended up 0.7 percent at its
highest level since June 15, with Keppel Land (KLAN.SI) up 2.2
percent and City Development (CTDM.SI) up 1.5 percent.
Some banks in the region fell after Moody's said it had a
negative outlook on Southeast Asian lenders, with United
Overseas Bank (UOBH.SI) down 1.4 percent. But DBS Group
Holdings (DBSM.SI), Southeast Asia's biggest bank, rose 0.9
percent.
Malaysia .KLSE eked out a small 0.2 percent gain, with
lender Maybank (MBBM.KL) down 1.7 percent, while palm planter
Sime Darby (SIME.KL) rose 0.7 percent.
The Thai index .SETI was up 0.9 percent, with PTT
Exploration PTTE.BK up 1.9 percent and PTT PTT.BK 0.9
percent higher. Siam Commercial Bank SCB.BK and Kasikornbank
KBAN.BK both fell 0.4 percent.
Dealers said market sentiment in Bangkok was cautious ahead
of an anti-government rally by red-shirted supporters of former
premier Thaksin Shinawatra at the weekend.
The Philippine index .PSI was up 0.4 percent, with Ayala
Land (ALI.PS) rising 1.2 percent, while Vietnam .VNI climbed
1.7 percent, with Bao Viet Holdings BVH.HM, the country's top
insurer, up nearly 5 percent.
Bucking the trend, Indonesia .JKSE inched down 0.2
percent, pulled down by a 7.2 percent fall in Bank Central Asia
(BBCA.JK) and a 1.5 percent loss in top lender Bank Mandiri
(BMRI.JK).
($1 = 34.03 Baht)
(Editing by Alan Raybould)
