SE Asia Stocks-Mostly higher, led by rebounding blue chips

By Viparat Jantraprap BANGKOK, Nov 11 (Reuters) - Most Southeast Asian stock markets rose on Wednesday, with Singapore hitting a 14-month high and beaten-down blue chips recouping recent losses -- from Indonesia's Bumi Resources to Thailand's Banpu. Trading volumes generally eased as markets took a lead from the ICE Futures U.S. dollar index, a measure of the dollar's value against six major currencies. It is down 1.9 percent this month and was hovering near its lowest since Aug. 8. "Our view is that U.S. dollar weakness would persist, helping to maintain the argument for a medium-term bullish market," said KGI Securities strategist Rakpong Chaisuparakul in Bangkok. Singapore's index ended up 1.2 percent at its highest since Sept 3, 2008, with Singapore Telecommunications rising 1.4 percent after Southeast Asia's biggest telecom firm posted an 18.8 percent profit rise. It also unveiled a plan to muscle into the fast-growing markets of Africa to grow further after it gave a cautious outlook for its core Singapore and Australian markets. Indices in Thailand and Indonesia reversed course after falls on Tuesday, each eking out about a one percent gain. In Bangkok, top coal miner Banpu jumped more than 3 percent following its plan to invest $466 million over the next six years, mostly in coal business. Chicken exporter Charoen Pokphand Foods jumped 5.2 percent to 16-year high after it raised a 2009 net profit target to a new record high. In Jakarta, Bumi Resources jumped 13 percent, after a big drop on Tuesday on plans to increase debt while coal miner Indo Tambangraya Megah soared 7 percent after its upbeat nine-month net profit. The Philippines rose for a second day, ending up 1.7 percent at 19-month highs, with Philex Mining jumping nearly 7 percent to a record high on expectations that prices will rise further ahead of a looming battle for control of the top Philippine miner. Vietnam advanced 2.5 percent after three days of falls, led by a 4.8 percent gain of by Vincom and a 3 percent rise by Vinamilk. Bucking the trend, Malaysia eased 0.3 percent, ending its sixth day of rises, as palm plantation firm Sime Darby fell 1 percent and IOI Corp was 0.4 percent lower, in line with weaker palm oil prices. Among weak spots in the region, Singapore Airlines, the world's largest airline by market value, lost 1.3 percent after reporting a worse-than-expected quarterly loss of S$159 million. ($1=33.29 Baht) (Editing by Jason Szep) (([e-mail]; [phone]; Reuters Messaging: [e-mail])) FACTORS TO WATCH: Philex hits record high on looming battle for control SingTel eyes opportunities in Africa to boost growth J.P.Morgan raises Singapore Air target price to S$16 TA ups Malaysia's CIMB to "buy" FUND VIEW-Indonesian infrastructure plays offerupside Palm oil drops for a 2nd day on ballooning stocks For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Prev Close Pct Move Singapore 2740.43 2707.60 +1.21 Kuala Lumpur 1270.15 1274.08 -0.31 Bangkok 717.90 708.20 +1.37 Jakarta 2403.88 2381.96 +0.92 Manila 3047.14 2996.71 +1.68 Ho Chi Minh 537.59 524.40 +2.52 Change on year Market Current End prev yr Pct Move Singapore 2740.43 1761.56 +55.57 Kuala Lumpur 1270.15 876.75 +44.87 Bangkok 717.90 449.96 +59.55 Jakarta 2403.88 1355.40 +77.36 Manila 3047.14 1872.85 +62.70 Ho Chi Minh 537.59 315.62 +70.33 Stock Market Volume (shares) Market Current Volume Average Volume 90 days Singapore 285,863,800 370,940,014 Kuala Lumpur 82,531,900 111,925,806 Bangkok 3,544,860 4,624,456 Jakarta 5,604,837,000 5,239,392,500 Ho Chi Minh 43,956 61,134 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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