* Jakarta gains in declining volume
* Vietnam hovers around one-year high
* But Singapore inches down before the closing bell
* And Manila falls to one-week low
By Viparat Jantraprap
BANGKOK, Sept 15 (Reuters) - Most Southeast Asian stock
markets rebounded on Tuesday, with Indonesia rising more than 1
percent and others posting smaller gains, led by big caps such
as Bumi Resources, PPB Group and DBS Group.
Markets in the region recouped Monday's losses, with
investors recovering their appetite for riskier assets,
analysts said.
Asian economies were well positioned to lead the global
recovery and funds should continue to flow into the region,
broker Kim Eng Securities said in a note to clients.
"A huge amount of funds in low-yielding safe havens,
including the dollar, money market funds and government bonds,
is likely to be transferred to riskier assets on a global
recovery outlook," the broker said.
Indonesia .JKSE, Southeast Asia's best performing bourse
so far this year, ended up 1.6 percent, bouncing back from a
1.4 percent fall on Monday.
Trading volume, however, declined as the market is winding
down ahead of a long holiday for the Muslim festival of Eid
al-Fitr. The stock market will be closed on Friday and resumes
trading on Thursday next week.
Coal miner Bumi Resources (BUMI.JK) rose 4 percent on
reports China's sovereign wealth fund was interested in buying
Bumi's planned bonds and warrants.
Other gainers included state coal miner Tambang Batubara
Bukit Asam (PTBA.JK), which was up 8 percent, and automotive
distributor Astra International (ASII.JK), which gained 7.6
percent.
Elsewhere, Singapore's index .FTSTI inched down 0.05
percent, erasing an early 0.7 percent gain, Malaysia's index
.KLSE was up 0.3 percent, Thailand's index .SETI climbed
1.3 percent and Vietnam's index .VNI inched up 0.03 percent.
In Singapore, property shares extended losses after the
government announced measures on Monday to curb housing market
speculation.
The fall was led by a 2.3 percent drop in Keppel Land
(KLAN.SI). City Developments (CTDM.SI) fell almost 2 percent
and CapitaLand (CATL.SI), Southeast Asia's biggest developer,
eased 0.3 percent.
Among gainers in the city-state, DBS Group (DBSM.SI),
Southeast Asia's biggest bank, was up 0.3 percent and gaming
group Genting Singapore (GENS.SI) rose 1.9 percent.
In Kuala Lumpur, Tenaga Nasional (TENA.KL) gained 2.1
percent and plantation group PPB (PEPT.KL) rose 1.8 percent.
Proton Holdings (PROT.KL) jumped 5.4 percent on market
speculation Malaysian billionaire Syed Mokhtar Al Bukhary may
be interested in acquiring a controlling stake in the car
maker.
Late buying pushed up energy shares in Bangkok as oil rose
towards $69 a barrel, with leader PTT (PTT.BK) rising 3.1
percent, PTT Aromatics PTTAR.BK surging 6 percent and IRPC
IRPC.BK jumping 5.9 percent.
In Vietnam, which extended its gains into a fourth day,
real estate developer Hoang Anh Gia Lai HAG.HM and Saigon
Securities SSI.HM both added more than 4 percent.
For Vietnam's stock report see [ID:nHAN134503]
Bucking the trend, the Philippines' index .PSI fell for a
second day, ending down 1.2 percent at its lowest since Sept.
3, weighed down by a 4.7 percent fall in utility firm Manila
Water (MWC.PS) and a 3.1 percent loss in Energy Development
(EDC.PS).
(Additional reporting by Tyagita Silka in Jakarta; Editing by
Alan Raybould)
