SE Asia Stocks-Philippines, Indonesia rise on gains in financial shares, Thailand falls

By Soumyajit Saha

* Real estate, banking stocks power Philippines * Lender Bank Rakyat Indonesia rise 2.9% * Low inflation in November hurts Thai stocks By Soumyajit Saha Dec 2 (Reuters) - Philippine and Indonesian shares rose more than 1% each on Monday, helped by heavy buying in big-cap stocks, while Thai stocks fell as dismal inflation figures soured investor mood. Indonesian stocks rose the most in the region, helped by gains in the financial sector. Lender Bank Rakyat Indonesia (Persero) rose 2.9%, while Bank Central Asia advanced 2.3%. The rise was a "combination of investors bottom fishing on attractive valuations and positive cues stemming from China," said Taye Shim, head of research at Mirae Asset Sekuritas. Big-cap stocks in the financial sectors, helped prop up Philippine shares. Real estate developer Ayala Corp jumped 4.3%, while lender BDO Unibank rose 4.1%. There is some bargain hunting and positioning ahead of next year due to expectations of GDP growth, while a low inflation environment also provides room for monetary easing, said Rachelle Cruz, analyst at AP Securities. The Philippine economy was likely to grow faster than previously thought in 2020, the International Monetary Fund had said last month, adding that there was room to strengthen expansionary policies if any risks emerged. The central bank said November annual inflation would likely be between 0.9% and 1.7%, ahead of official numbers that come out on Thursday. Thai stocks fell after data showed that headline consumer price index rose 0.21% in November from last year, but was lower than expected. The headline inflation remained below the Bank of Thailand's 1%-4% target range for a sixth straight month. The poor inflation figures added to macroeconomic concerns surrounding growth in the Thai economy, leading to selling in big cap stocks, said Teerada Charnyingyong, strategist at Phillip Securities, Thailand. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS STOCK MARKETS Change on the day Market Current Previous Pct Move close Singapore 3187.97 3193.92 -0.19 Bangkok 1569.53 1590.59 -1.32 Manila 7877.19 7738.96 1.79 Jakarta 6130.055 6011.83 1.97 Kuala Lumpur 1570.55 1561.74 0.56 Ho Chi Minh 959.31 970.75 -1.18 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3187.97 3068.76 3.88 Bangkok 1569.53 1563.88 0.36 Manila 7877.19 7,466.02 5.51 Jakarta 6130.055 6,194.50 -1.04 Kuala Lumpur 1570.55 1690.58 -7.10 Ho Chi Minh 959.31 892.54 7.48 (Reporting by Soumyajit Saha in Bengaluru; Editing by Arun Koyyur)