SE Asia Stocks-Most indexes bounce back in holiday-thinned market

BANGKOK, Dec 24 (Reuters) - Most Southeast Asian stocks

gained in light volumes on Tuesday, in line with other Asian

markets, with political-hit Thai shares reversing a three-day

losing streak and Malaysian stocks rebounding after four

straight days of falls.

At midday, Thai SET index was up 0.3 percent at

1,330.56, coming off a 15-week intraday low of 1,320.89 and

regaining some of its almost 2 percent drop since Thursday.

Shares of Bank of Ayudhya jumped 7 percent after

Monday's 22 percent plunge, partly due to portfolio adjustments

after the stock was removed from the MSCI Thailand, broker

Maybank Kim Eng Securities said.

The domestic political setbacks would limit a market upside

towards the end of the year, strategists at broker KGI

securities wrote in a report.

"Uncertainties on the coming election in February and also

the announcement that the opposition Democrats would not

participate in the election imply that Thai politics is not out

of the woods yet," they said.

The Thai baht hit its lowest level in nearly four

years versus the dollar, staying on the defensive after having

retreated recently due to the political uncertainty.

Malaysia's main index was up 0.2 percent after a

fourth slide on Monday, led by a 2.5 percent gain in shares of

Petronas Gas, the biggest percentage gainer.

The exchange saw about 14 million shares changed hands so

far on the day, 0.12 percent of a full day average over past 30

sessions.

Other share markets including Singapore, Indonesia and

Vietnam also had a thin market ahead of the Christmas holiday,

while Philippine stock market was shut on Tuesday and Wednesday.

Singapore's index was up 0.36 percent, led by gains

in property firms such as CapitaMalls Asia, while

MSCI's broadest index of Asia-Pacific shares outside Japan

was 0.2 percent higher.

Asian markets took cheer on Tuesday after Wall Street rang

up more records and upbeat U.S. spending data burnished the

outlook for the global economy.

Among weak spots, Indonesia's index edged down 0.1

percent as recent gainers such as shares of telecommunications

firm XL Axiata retreated, while institutional-led

buying lifted consumer names, including Charoen Pokphand

Indonesia.

"With three trading days remaining before the end of 2013,

we expect big caps such as banking sector, consumer would gain

on window-dressing," strategists of broker Trimegah Securities

wrote in a report.

Vietnam's VN Index edged down 0.23 percent amid

cautions ahead of a quarterly reporting season.

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SOUTHEAST ASIAN STOCK MARKETS

Change at 0615 GMT

Market Current Prev Close Pct Move

TR SE Asia Index* 385.36 384.94 +0.11

Singapore 3127.29 3116.22 +0.36

Kuala Lumpur 1837.34 1832.86 +0.24

Bangkok 1330.56 1326.14 +0.33

Jakarta 4184.88 4189.61 -0.11

Ho Chi Minh 507.30 508.68 -0.27