SE Asia Stocks - Major markets retreat; Thai VAT rate plan lifts retailers

BANGKOK, March 20 (Reuters) - Most major Southeast Asian

stock markets fell on Friday as investors booked profits a day

after a rally on easing concerns about an imminent Fed rate

hike, but Thai retailers outperformed after a plan to maintain

the value-added tax rate.

Late buying in shares such as Home Product and

Big C Supercenter helped trim losses in the broader

market. The SET index ended the day down 0.14 percent,

with a weekly loss of 0.75 percent, its fifth straight week.

Thai Deputy Prime Minister Pridiyathorn Devakula said on

Friday the government plans to keep the value-added tax at 7

percent for another year from the end of September to support

the economy.

Malaysia and Indonesia retreated but still

ended the week up 1.2 percent and 0.3 percent, respectively. The

Philippines closed nearly unchanged after early losses,

with a weekly rise of 0.1 percent.

Vietnam closed up 0.3 percent on the day, declining

1.8 percent on the week.

Asian stocks dipped as Federal

Reserve-inspired gains petered out. The Fed on Wednesday opened

the door further for an interest rate hike but signalled a more

cautious outlook for U.S. growth, cooling speculation for

tightening in June.

Bucking the trend, Singapore was up 0.8 percent,

advancing 1.5 percent on the week. Shares of Noble Group jumped

3 percent after it said Prudential Plc has increased its

stake in the company to more than 5 pct and become a substantial

shareholder

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SOUTHEAST ASIAN STOCK MARKETS

Change on day

Market Current Prev Close Pct Move

Singapore 3412.44 3386.16 +0.78

Kuala Lumpur 1803.65 1809.13 -0.30

Bangkok 1529.96 1532.13 -0.14

Jakarta 5443.06 5453.85 -0.20

Manila 7818.38 7814.55 +0.05

Ho Chi Minh 575.44 573.74 +0.30

Change on year

Market Current End 2014 Pct Move

Singapore 3412.44 3365.15 +1.41

Kuala Lumpur 1803.65 1761.25 +2.41

Bangkok 1529.96 1497.67 +2.16

Jakarta 5443.06 5226.95 +4.13

Manila 7818.38 7230.57 +8.13

Ho Chi Minh 575.44 545.63 +5.46

(Reporting by Viparat Jantraprap; Editing by Sunil Nair)