10/11/2011 (Reuters) - Some Southeast Asian stock markets posted gains on Wednesday, led by big caps and commodities-related stocks, but buying interest generally weakened as investors waited to see how the debt crisis in Europe would develop. 

Risk appetite has been improving in line with progress on the debt problems, leading to a revival in foreign flows to emerging Asia.

Asian shares in general rose after Italian Prime Minister Silvio Berlusconi said he would resign, raising hopes the debt-ridden country would proceed with reforms that may help keep the euro zone's sovereign debt crisis from spreading.

"The market is showing better sentiment, even though Europe is still volatile," said Teddy Dwitama, an analyst at broker OSK Nusadana Research in Jakarta.

Jakarta's Composite Index climbed 1.4 percent to 3,857.36, rising to the highest in almost two weeks, but turnover fell 20 percent short of its monthly average. 

Malaysia and the Philippines rose 0.6 percent and 0.7 percent respectively but stocks in Singapore, Thailand and Vietnam erased early gains, falling 0.3 percent, 1.6 percent and 0.8 percent. 

Short-term traders booked profits in Thailand as the poor near-term outlook for banks after flooding prompted selling in the sector. 

"Banks are under pressure from falling loan demand and deteriorating asset quality. We have an underweight rating for the sector," said Pichai Lertsupongkij, head of investment advisory for broker Thanachart Securities.

The Thai bank subindex dropped 2.5 percent.

The MSCI's index for Asia excluding Japan was 0.4 percent higher. In Jakarta, PT Astra International Tbk, Indonesia's main vehicle distributor and biggest listed company, gained 3.4 percent and top lender Bank Mandiri rose 2 percent.

Plantation firm PT Astra Agro Lestari Tbk rose 3.3 percent while Singapore-listed palm oil firm Golden Agri-Resources rose 0.8 percent due to high palm oil prices.

Elsewhere, Philippine Metro Pacific Investment Corp jumped 3.4 percent as the conglomerate reported a 33 percent increase in nine-month earnings.   

Foreign investors bought shares in Malaysia, Indonesia and the Philippines for $70 million, $95 million and $6.6 million, respectively, Thomson Reuters and stock exchange data showed.

SOUTHEAST ASIAN STOCK MARKETS 
 Change on day
 Market                Current     Prev Close    Pct Move
 Singapore          2858.66       2866.52       -0.27
 Kuala Lumpur    1489.64       1480.46       +0.62
 Bangkok             967.84        983.44       -1.59
 Jakarta              3857.36       3805.65       +1.36
 Manila               4346.20       4314.67       +0.73
 Hanoi                  405.19        408.60       -0.83
 
 Change on year
 Market                  Current     End prev yr    Pct Move
 Singapore             2858.66       3190.04      -10.39
 Kuala Lumpur       1489.64       1518.91       -1.93
 Bangkok                967.84       1032.76       -6.29
 Jakarta                3857.36       3703.51       +4.15
 Manila                 4346.20       4201.14       +3.45
 Hanoi                    405.19        484.66      -16.40
 
 Stock Market Volume (shares)
 Market             Current Volume    Average Volume 30 days
 Singapore            383,052,300          387,231,000      
 Kuala Lumpur      105,961,500          117,961,170      
 Bangkok                4,262,125              3,442,968      
 Jakarta            3,328,228,000        4,163,826,233   
 Manila                      135,238                 376,433   
 Hanoi                         24,296                   31,837