SE Asia Stocks-Thailand at 1-week low; Indonesia up on MSCI news

By Viparat Jantraprap BANGKOK, Nov 12 (Reuters) - Thai stocks fell to a one-week low on Thursday, weighed down by losses in energy heavyweights PTT and PTT Exploration, while Indonesia climbed to its highest in more than two weeks as Adaro Energy jumped on MSCI index news. Major Southeast Asian stock markets elsewhere were taking a breather after a recent rally, with Singapore's index dropping 0.5 percent after climbing for over four days, while Malaysia inched up 0.1 percent. "Stock market sentiment globally turned a bit neutral. Several markets have scaled peaks this year and they are now consolidating," said Tisco Securities strategist Viwat Techapoonphol in Bangkok. "Thailand was largely hit by selling in PTT and PTT Exploration and by domestic issues," he said, referring to growing political uncertainty as fugitive former premier Thaksin Shinawatra rallied supporters from just over the border in Cambodia, while his opponents planned a weekend rally in Bangkok. Thailand's index dropped nearly 3 percent to 696.72, its lowest since Nov. 6, with PTT, the country's biggest energy firm, sliding 5.6 percent to 236 baht and its exploration flagship, PTT Exploration and Production, losing 5.6 percent to 136 baht. The two stocks weigh a combined 21 percent in the benchmark Thai stock index. Goldman Sachs cut its target price for PTT by 9.1 percent to 300 baht and for PTT Exploration by 7.5 percent to 160 baht, dealers said. Investors were concerned about the outlook for the PTT group due to a recent court order to suspend 76 industrial projects, including those of PTT, at the country's biggest industrial estate due to environmental concerns. Some analysts expect a rebound in the Thai market due to the improving economic outlook next year. Macquarie Research has raised its Thai SET index target from 650 for 2009 to 800 for 2010, according to a research note. In Singapore, Wilmar International fell 2 percent, paring early gains after the world's largest listed palm oil firm said it was optimistic about prospects for the rest of this year after a one-off gain helped it post a better-than-expected 35 percent rise in quarterly profit. Singapore Telecommunications dropped 1.7 percent and Singapore Exchange fell 2.3 percent. In Kuala Lumpur, palm plantation firm Sime Darby gained 0.1 percent in response to higher Malaysian crude palm oil futures. Malayan Banking fell 0.2 percent before the top lender announced that its first-quarter net profit had risen by more than half as the rebound in Asian economies boosted fee-based income and its loan book. Indonesia's index ended up 0.7 percent, hitting its highest since Oct. 27, with top coal miner Adaro Energy climbing 4.5 percent after news the stock will be included in the MSCI Indonesia Index with effect from Nov. 30. Other stocks that will also be included in the index gained, with coal miner Indo Tambangraya Megah up 3.7 percent and Bank Negara Indonesia 2 percent higher. In Manila, the index gained 0.9 percent, with conglomerate Metro Pacific Investments Corp up 3.9 percent after reiterating that its purchase of more shares in Manila Electric would not trigger a costly tender offer. Manila Electric Co fell 1.9 percent. Vietnam's index extended its gains into a second day, adding 1.7 percent. ($1=33.27 Baht) (Editing by Alan Raybould) (([e-mail]; [phone]; Reuters Messaging: [e-mail])) FACTORS TO WATCH: Metro Pacific says may buy more shares in Meralco Manila's ABS-CBN 9-mth net profit up 16.5 pct FACTBOX-Changes to MSCI Global Standard Indices Wilmar Q3 net pft up 35 pct, outlook optimistic Malaysia's Maybank Q1 profit beats expectations Palm up, snaps 2-day losing streak on weather For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Prev Close Pct Move Singapore 2726.24 2740.43 -0.52 Kuala Lumpur 1271.75 1270.15 +0.13 Bangkok 696.72 717.90 -2.95 Jakarta 2420.28 2403.88 +0.68 Manila 3073.92 3047.14 +0.88 Ho Chi Minh 545.98 537.59 +1.56 Change on year Market Current End prev yr Pct Move Singapore 2726.24 1761.56 +54.76 Kuala Lumpur 1271.75 876.75 +45.05 Bangkok 696.72 449.96 +54.84 Jakarta 2420.28 1355.40 +78.57 Manila 3073.92 1872.85 +64.13 Ho Chi Minh 545.98 315.62 +72.99 Stock Market Volume (shares) Market Current Volume Average Volume 90 days Singapore 334,481,400 371,076,462 Kuala Lumpur 85,158,800 109,942,428 Bangkok 3,677,932 4,635,654 Jakarta 5,601,596,000 5,271,171,433 Ho Chi Minh 49,998 61,091 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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