HANOI: Thai shares on Friday closed at their highest since late November on solid buying while Vietnam's benchmark tumbled to a nine-week low amid widespread selling. Bangkok's SET Index edged up 0.03 percent to mark a third straight day of gains, led by telecom firm Advanced Info Service Pcl which rose 1.27 percent. "Decent foreign equity inflows may continue to support SET in the near term," KGI Securities said in a note to clients. Foreign investors were net buyers of shares worth 7.5 billion baht ($233.1 million) in the $386-billion market in seven consecutive trading sessions as of Friday , Reuters data showed. But analysts expect the index to face some selling off around a resistance level of 1420. "Catalysts for possible near-term correction remain local institutional selling and the longer than expected drag from politics," KGI said. Malaysia's Kuala Lumpur Composite Index witnessed a second day of gains after hitting a three-week low on Wednesday. It edged up 0.12 percent to end at 1852.69. The Vietnamese index, however, plummeted 2.58 percent to its lowest level since Feb. 2 on widespread offloading of stocks amid strong selling on expectations of further losses. VN Index has dropped 5.16 percent this week, losing its title as Southeast Asia's best performer so far this year. Stock markets in Singapore, Indonesia and the Philippines were closed for a holiday and will resume trading on Monday. SOUTHEAST ASIAN STOCK MARKETS Change on day Market Current Prev Close Pct Move TR SE Asia Index* 421.09 421.55 -0.11 Kuala Lumpur 1852.69 1850.54 +0.12 Bangkok 1409.18 1408.78 +0.03 Ho Chi Minh 565.33 580.31 -2.58 Change on year Market Current End 2013 Pct Move TR SE Asia Index* 421.09 388.37 +8.42 Singapore 3253.80 3167.43 +2.73 Kuala Lumpur 1852.69 1866.96 -0.76 Bangkok 1409.18 1298.71 +8.51 Jakarta 4897.05 4274.18 +14.57 Manila 6671.18 5889.83 +13.27 Ho Chi Minh 565.33 504.63 +12.03 * The Thomson Reuters South East Asia Index is a highly representative indicator of stocks listed in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. ($1 = 32.1750 Thai Baht)- Reuters

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Southeast Asia Stocks: Thai shares close at 5-mth hHigh; M'sia 2nd day gain, Vietnam falls