SE Asia Stocks-S'pore at 1-week high, Thailand reverses losses

* Singapore hits a 1-week high, Thai shares reverse losses

* Thin turnover because of holidays

* Analysts expect renewed falls this week

By Viparat Jantraprap

BANGKOK, Dec 29 (Reuters) - Singapore shares hit a one-week
high on Monday, pushed up by financials and property shares
such as DBS and Capitaland, while Thai stocks reversed losses
and ended higher for a third day despite renewed political
turmoil.

Singapore's Straits Times Index .FTSTI rose 3.2 percent
to close at its highest level since Dec. 22, while the main
Thai index .SETI inched up 0.02 percent, building on a 1.7
percent gain over the past two days.

Trade in the region was muted in the absence of
participants from Malaysia, Indonesia and Philippines, which
were closed for holidays.

Despite Monday's gains, Southeast Asian stock markets were
expected to see further falls this week and were likely to
continue their lower trend in the first half of next year, said
Pichai Lertsupongkij, head of sales at Thanachart Securities.

"It will be a year of volatility and full of risks for
equity markets. Markets in this region have a similar systemic
risk of having export exposure to the U.S. market and remain at
risk to the economic downturn there," he said.

"Hopefully, we may see a good recovery in markets which
have a big proportion of domestic consumption to GDP, which can
help offset the fall in exports and attract investors to
defensive plays like the telecoms sector," he said.

Financials led gainers in Singapore, with DBS (DBSM.SI)
surging 7.7 percent and UOB (UOBH.SI) up 4.3 percent. Property
and telecom shares also rose, with Capitaland (CATL.SI) up 1.7
percent and Singapore Telecoms (STEL.SI) inching up 0.39
percent.

Dealers in Bangkok said year-end buying helped send telecom
group Shin Corp SHIN.BK 4.9 percent higher and top telecom
firm Advanced Info Service ADVA.BK up 1.9 percent.

Decliners included Siam Cement SCC.BK, which closed 0.96
percnt lower, and Kasikornbank, KBAN.BK, which slid 0.55
percent.

The market moved in a fairly tight range but fell as much
as 1.4 percent in early trade as thousands of anti-government
protesters blockaded parliament, forcing Prime Minister Abhisit
Vejjajiva to delay a maiden policy speech until Tuesday.

In Hanoi, Southeast Asia's worst performer of the year, the
index rose for a second day to a one-week high, with gainers
including Vinh Hoan Corp VHC.HM and Vinpearl Tourism VPL.HM
which both jumped 5.0 percent.
(Editing by Alan Raybould)