SE Asia Stocks-Subdued as ECB move fails to cheer; Fed eyed

Dec 9 (Reuters) - Southeast Asian markets notched up

marginal gains in subdued trade on Friday as the European

Central Bank's decision to extend its debt-buying programme did

little to boost investor sentiment.

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' focus will now turn to next week's FOMC

meeting," Taye Shim, head of research at Daewoo Securities

Indonesia, said in a note. The U.S. Federal Reserve is expected

to raise interest rates at its policy meeting next week.

However, the possibility of a rate hike 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.

Philippine shares inched up slightly to end 0.3

percent higher, supported by financial and industrial stocks.

The index was up 2.3 percent for the week.

Security Bank Corp rose 3.8 percent and

Metropolitan Bank and Trust Co gained 2.7 percent.

San Miguel Corp ended 4.3 percent higher.

Thailand shares gave up early gains to end flat, but

closed 1.6 percent higher for the week. Earlier in the session,

the index had touched its highest in over three months.

Energy shares gained the most 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 importer of oil in

Southeast Asia.

PTT Pcl rose 1.9 percent while PTT Exploration and

Production Pcl was up more than 1 percent.

Vietnam shares closed 0.6 percent higher, with newly

listed Saigon Beer Alcohol Beverage Corp among the top

gainers, rising nearly 7 percent.

The index slipped 0.3 percent this week.

"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.

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SOUTHEAST ASIAN STOCK MARKETS

Change on day

Market Current Previous Pct Move

Close

Singapore 2956.13 2958.86 -0.09

Bangkok 1526.32 1525.41 0.06

Manila 7043.16 7022.38 0.30

Jakarta 5308.126 5303.734 0.08

Kuala Lumpur 1641.42 1643.75 -0.14

Ho Chi Minh 663.07 658.89 0.63

Change so far

this year

Market Current End 2015 Pct Move

Singapore 2956.13 2882.73 2.55

Bangkok 1526.32 1288.02 18.50

Manila 7043.16 6952.08 1.31

Jakarta 5308.126 4593.008 15.57

Kuala Lumpur 1641.42 1692.51 -3.02

Ho Chi Minh 663.07 579.03 14.51

(Reporting by Krishna V Kurup in Bengaluru; Editing by Sunil

Nair)