SE Asia Stocks - Thai shares up Q2 GDP growth

BANGKOK, Aug 18 (Reuters) - Thai shares gained modestly on

Monday after second-quarter GDP growth helped the domestic

economy avoid a technical recession, while Oversea-Chinese

Banking Corporation underperformed the Singapore

market after the bank announced a rights issue.

Bangkok's SET index edged up 0.04 percent as

investors bought banking stocks such as Siam Commercial Bank

and Kasikornbank ahead of interim dividend

announcements later this month.

Thailand's economy expanded 0.9 percent in April-June from

the previous three months, avoiding a technical recession, and

grew 0.4 percent from a year earlier, the planning agency said.

Investors focussed on the ruling military council's

discussion of the 2015 fiscal budget plan on Monday and

formation of an interim government seen later this month.

"Market momentum is likely to remain positive this week with

further upside, driven by optimism over the fiscal budget and

the next prime minister," strategists at broker Krungsri

Securities wrote in a report.

Singapore's Straits Times Index was down 0.37

percent, with shares of Oversea-Chinese Banking Corp falling as

much as 1.4 percent to an over one-week low.

Other Southeast Asian markets were rangebound in line with

Asia after U.S. stocks ended mixed on Friday, paring an earlier

selloff sparked by reports of Ukraine shelling a Russian

armoured column.

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SOUTHEAST ASIAN STOCK MARKETS

Change at 0305 GMT

Market Current Prev Close Pct Move

TR SE Asia Index* 444.49 444.35 +0.03

Singapore 3302.60 3314.77 -0.37

Kuala Lumpur 1862.62 1864.31 -0.09

Bangkok 1547.28 1546.62 +0.04

Jakarta 5163.84 5148.96 +0.29

Manila 7030.71 7008.51 +0.32

Ho Chi Minh 605.12 604.24 +0.15

* The Thomson Reuters South East Asia Index is a

highly representative indicator of stocks listed in Indonesia,

Malaysia, the Philippines, Singapore, Thailand and Vietnam.

(Reporting by Viparat Jantraprap; Editing by Subhranshu Sahu)