SE Asia Stocks-Mostly higher after earnings, Thailand leads rise

By Ploy Ten Kate BANGKOK, Nov 6 (Reuters) - Most major Southeast Asian stock markets rose on Friday, with solid earnings from DBS, Thai Oil and others providing support in Singapore and Thailand, and blue chips elsewhere coming off recent lows. Fewer jobless claims in the U.S. and estimate-beating results prompted most markets in the region to rise over 1 percent, with Thailand gaining 2.5 percent and Singapore up 1.1 percent, both hitting their highest levels of the week. Financial stocks in the city-state led the rally after DBS Group, Southeast Asia's biggest lender, rose over 3 percent after beating market expectation with a 49 percent rise in quarterly profit. Number two lender United Overseas Bank and third-ranked Oversea-Chinese Banking Corp, which topped market estimates earlier, shot up about 2 percent each. With global interest rates still at exceptionally low levels, analysts say investors still have reason to buy. "We are on the verge of an earnings recovery that may not be fully discounted by investors yet," Citigroup Global Equity Strategist said in a research note. By 0941 GMT, futures on the Dow Jones were up 0.09 percent and the MSCI Asia Pacific index ex-Japan added 1.9 percent. Sentiment in Thailand picked up after Thai Oil posted stronger-than-expected profit thanks to the absence of inventory losses in the quarter. Its shares ended up 4.3 percent at a one-week high. Advanced Info Service, Thailand's top mobile phone operator, climbed 1.2 percent after a better-than-expected 7.7 percent drop in quarterly results. In Kuala Lumpur, the index eked out a small gain of 0.5 percent, with gaming group Genting up 1.4 percent after a top executive said the company was on track to launch a new casino in Singapore by January next year. Shares in gaming-to-power group Tanjong surged as much as 5.7 percent before closing 3.7 percent higher as Citigroup said it could raise its dividend payout in the absence of new projects. Indonesian banks led gainers in Jakarta and left the index up 1.2 percent after touching a more-than-one-week high. Number two lender Bank Rakyat Indo was up 3.5 percent, PT Bank Mandiri, the largest, was off 1.7 percent and Bank Negara Indonesia rose 3.9 percent. The Philippines' index lost 0.4 percent, falling back from Thursday's 1.3 percent rise, weighed down by Manila Electric Co (Meralco) and First Philippine Holdings, which tumbled 12.2 and 3.5 percent respectively. Meralco stocks slid to a one-week low after First Philippine Holdings forged a $471 million deal to sell a 6.7 percent stake in the Philippine power retailer. In Hanoi, the main index fell 0.12 percent on profit-taking, with Sonadezi Long Thanh Co down 5 percent. IDICO Urban and House Development Co and Investment Commerce Fisheries Co each fell about 4.9 percent. ($1=33.37 Baht) (Editing by Alan Raybould) FACTORS TO WATCH: Metro Pac to issue bonds to fund Meralco deal Thai AIS plans $1.5 bln network investment DBS plans more hiring for private bank business Thai Air sees profit in 2010, unsure of 2009 Indonesia's Telkom aims for 10-15 pct growth in 2010 Even distressed sellers fetch top prices in Asia DEALTALK-Singapore's DBS dilemma: build or buy big Manila's Globe 9-mth net profit up 12.3 pct on yr For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Prev Close Pct Move Singapore 2658.21 2629.35 +1.1 Kuala Lumpur 1260.76 1253.96 +0.54 Bangkok 698.63 681.91 +2.45 Jakarta 2395.11 2367.21 +1.18 Manila 2931.47 2944.51 -0.44 Ho Chi Minh 554.88 555.54 -0.12 Change on year Market Current End prev yr Pct Move Singapore 2658.21 1761.56 +50.90 Kuala Lumpur 1260.76 876.75 +43.80 Bangkok 698.63 449.96 +55.26 Jakarta 2395.11 1355.40 +76.71 Manila 2931.47 1872.85 +56.52 Ho Chi Minh 554.88 315.62 +75.81 Stock Market Volume (shares) Market Current Volume Average Volume 90 days Singapore 260,894,700 368,173,853 Kuala Lumpur 83,333,2400 118,329,127 Bangkok 3,759,165 4,604,708 Jakarta 2,890,716,000 5,346,596,572 Ho Chi Minh 61,061 60,512 ASIA-PACIFIC STOCK MARKETS: Pan-Asia........ Japan....... S.Korea... S.E. Asia....... Hong Kong... Taiwan.... Australia/NZ.... India....... China..... OTHER MARKETS: Wall Street.... Gold ....... Currency.. Eurostocks..... Oil ........ JP bonds... ADR Report ..... LME metals. US bonds.. Stocks News US.. Stocks News Europe DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Singapore diary Wall Street Week Ahead Eurostocks Week Ahead TOP NEWS: For top Asian company news, double click on: U.S.

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