SE Asia Stocks-Lacklustre; Thailand hits over 3-mth high

By Krishna V Kurup

Dec 9 (Reuters) - Southeast Asian stock markets were subdued

on Friday, little supported by the European Central Bank's

decision to extend its debt-buying programme.

The ECB trimmed back its asset buys in a surprise move on

Thursday but promised protracted stimulus to aid a still fragile

recovery, and dismissed any talk of tapering the programme away.

Investors have now shifted their focus to the U.S. Federal

Reserve policy meeting on Dec.13-14, where it is widely expected

to raise interest rates.

The possibility of a rate hike next week has been almost

fully priced in by the market, and the focus is now on whether

the central bank hints of further monetary tightening in 2017.

Among Southeast Asian stock markets, Thailand

touched its highest in over three months, helped by energy

stocks as oil prices held on to gains on growing hopes that

non-OPEC producers might agree to cut output following a cartel

agreement to limit production.

Thailand is the second largest net oil importer in Southeast

Asia.

PTT Pcl gained 1.7 percent and PTT Exploration and

Production Pcl rose nearly 2 percent.

Philippine shares were marginally higher after

touching their highest in three weeks. They have gained nearly 2

percent so far this week, heading for their first weekly gain in

three.

Industrial and financial stocks led the gains, with San

Miguel Corp rising 6 percent and Metropolitan Bank and

Trust Co climbing 1.8 percent.

"Markets are expected to see some pull-back after their

sharp gain on Thursday, as local investors are apprehensive to

come in at the current price," said Joseph Roxas, an analyst

with Manila-based Eagle Equities.

"For the rest of the month, we will see low trading volumes

and mostly local investors active because of the holiday

season."

Vietnam shares were on track for a third straight

session of gains after Tuesday's steep fall.

"Market has been weak recently and lagged regional markets.

So, this is more of a catch-up rally," said Fiachra Mac Cana,

managing director and head of research at Ho Chi Minh

Securities.

Newly listed Saigon Beer Alcohol Beverage Corp was

among the top gainers, rising nearly 7 percent.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS: Change at 0434 GMT

Market Current Prev close Pct Move

Singapore 2954.44 2958.86 -0.15

Bangkok 1529.49 1525.41 0.27

Manila 7036.74 7022.38 0.20

Jakarta 5289.156 5303.734 -0.27

Kuala Lumpur 1639.51 1643.75 -0.26

Ho Chi Minh 662.15 658.89 0.49

Change on year

Market Current End 2015 Pct Move

Singapore 2954.44 2882.73 2.49

Bangkok 1529.49 1288.02 18.75

Manila 7036.74 6952.08 1.22

Jakarta 5289.156 4593.008 15.16

Kuala Lumpur 1639.51 1692.51 -3.13

Ho Chi Minh 662.15 579.03 14.36

(Reporting by Krishna V Kurup in Bengaluru; Additonal Reporting

by Geo Tharappel; Editing by Subhranshu Sahu)