* Thai banks outperform on earnings outlook
* Broker Citi pegs end-year Thai SET target at 915
* Singapore hits 1-week high; Malaysia ends 6-day fall
BANGKOK, July 6 (Reuters) - Thai stocks hit a three-month
high on Tuesday as investors piled into banks ahead of their
quarterly results later in the month and the appointment of a
new central bank governor also helped sentiment.
Thailand's government has selected Kasikornbank (KBAN.BK)
President Prasarn Trairatvorakul to be the next governor of the
Bank of Thailand, in charge of monetary policy for five years
from October. [ID:nSGE66507P]
"Markets generally welcomed the appointment. On top of the
news, a batch of earnings plays was also a boost today," said
Warut Siwasariyanon, head of research at Finansia Syrus
Securities.
The Thai SET index .SETI climbed 1.4 percent to 815.52,
the highest since April 7. Its gain for the year rose to 11
percent, the second-best performance in Southeast Asia after
Indonesia, which has risen 14.9 percent.
Broker Citi Investment Research is targeting an end-year
SET target of 915, saying Thailand was potentially entering an
investment-led growth cycle similar to that of 1985-95.
Banks were among outperformers, with leader Bangkok Bank
(BBL.BK) up 3.2 percent, number two Krung Thai Bank KTB.BK up
3.9 percent and Siam Commercial Bank (SCB.BK) 1.8 percent
higher.
Thai banks are expected to continue to show resilience
after the economic and political shocks of the past two years,
Fitch Ratings said in a report on the sector. [ID:nWLA7772]
Asian stocks in general took heart from gains in the
Chinese market led by property and bank stocks, plus U.S. stock
index futures, which pointed to a stronger start on Tuesday.
The MSCI index of Asian shares outside Japan
.MIAPJ0000PUS was up 1.65 percent by 0948 GMT while the U.S.
stock index futures .DJHO were up 0.72 percent.
Singapore .FTSTI gained 0.8 percent to a one-week high,
Malaysia .KLSE rose 0.6 percent, ending a six-day fall,
Indonesia added 1.2 percent and the Philippines .PSI was up
0.7 percent but Vietnam .VNI bucked the trend, down 1.1
percent.
In Singapore, Wilmar International (WLIL.SI), the world's
largest listed palm oil firm, rose 1.2 percent. It said after
the market close that it was keen to expand its sugar business
by setting up operations in Indonesia and Brazil.
[ID:nSGE6650BP]
In Jakarta, actively traded stocks included the biggest gas
distributor, PT Perusahaan Gas Negara (PGAS.JK), which rose 3.2
percent, and state telecoms firm PT Telekomunikasi Indonesia
(TLKM.JK), which rose 1.3 percent.
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