SE Asia Stocks-S'pore, Malaysia climb, led by palm oil shares

By Viparat Jantraprap BANGKOK, Nov 10 (Reuters) - Singapore shares climbed to their highest in three weeks and Malaysian stocks hit 17-month highs on Tuesday as palm oil firms such as Wilmar and Sime Darby extended gains amid optimism about the outlook for palm prices. CIMB Research upgraded Asia's plantation industry to "overweight" from "neutral" as it raised its crude palm oil price forecasts for the next two years by 7-18 percent. Macquarie Research has also upgraded its view on the plantation sector. Singapore's index rose 0.5 percent, with Wilmar International adding 1.7 percent and Noble Group rising 2.2 percent. The benchmark Straits Times Index earlier touched its highest since Oct. 20. Malaysia's index ended up 0.5 percent at its highest since May 23, 2008, with Sime Darby up 0.3 percent and Kuala Lumpur Kepong 1.2 percent higher. The Philippines jumped 2.8 percent to its highest since April 3, 2008, turning round after a two-day loss. Top miner Philex Mining Corp shot up 14.3 percent while rival Century Peak Metals Holdings Corp surged 8.3 percent. Among weak spots, Indonesia and Thailand ended two days of gains, falling 1.02 percent and 0.7 percent respectively, while Vietnam fell for a third day, dropping 1.8 percent to its lowest since Sept. 7. Brokers in Bangkok expected profit-taking after results. "There could be profit-taking on large-cap stocks after third-quarter results are out this week. We recommend investors switch to mostly mid-cap stocks with a strong earnings outlook," said Vikas Kawatra, head of institutional broking at Kim Eng Securities. Thailand's PTT Aromatics lost nearly 3 percent after it reported a net profit in the third quarter, turning round from a net loss a year earlier due to higher petrochemical income and an absence of inventory losses. Refiner IRPC fell 2.4 percent and CP Foods dropped 1 percent after quarterly results. In Jakarta, coal miner Bumi Resources lost 6.5 percent after it announced plans to increase its debt by raising $300 million from the sale of seven-year notes. Singapore Airlines, the world's biggest carrier by market value, ended up 0.1 percent. After the close it reported a worse-than-expected quarterly loss as the global economic slowdown hit margins, but it said the outlook had improved. ($1=33.31 Baht) (Editing by Alan Raybould) (([e-mail]; [phone]; Reuters Messaging: [e-mail])) FACTORS TO WATCH: Singapore Air reports Q2 loss, says outlook better SingTel mobile users rise to 273 mln at end-Sept Malaysia's CIMB Q3 net profit jumps 62 pct on yr Thai CP Foods forecasts record net profit in 2009 Malaysia palm stocks hit 10-mth high, sell-off eyed For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Prev Close Pct Move Singapore 2707.60 2693.38 +0.53 Kuala Lumpur 1274.08 1267.75 +0.50 Bangkok 708.20 713.48 -0.74 Jakarta 2381.96 2406.43 -1.02 Manila 2996.71 2915.71 +2.78 Ho Chi Minh 524.40 534.09 -1.81 Change on year Market Current End prev yr Pct Move Singapore 2707.60 1761.56 +53.70 Kuala Lumpur 1274.08 876.75 +45.32 Bangkok 708.20 449.96 +57.39 Jakarta 2381.96 1355.40 +75.74 Manila 2996.71 1872.85 +60.01 Ho Chi Minh 524.40 315.62 +66.15 Stock Market Volume (shares) Market Current Volume Average Volume 90 days Singapore 307,017,600 369,767,144 Kuala Lumpur 88,121,400 113,896,977 Bangkok 4,815,440 4,603,298 Jakarta 3,598,279,000 5,241,061,778 Ho Chi Minh 52,487 60,924 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.

company news European company news Forex news Global Economy news Banking news Tech,Media,Telecoms Politics/General news Asia Macro data A multimedia version of Reuters Top News is available at: http://topnews.session.rservices.com LIVE PRICES & DATA: World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt (Local currency) LME price overview Keywords: MARKETS SOUTHEASTASIA STOCKS (If you have a query or comment on this story, send an email to [e-mail]) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.