Stocks in Singapore and Malaysia posted modest gains on Monday, led by plantation stocks such as Golden Agri-Resources Ltd and Sime Darby Bhd while Vietnam rose after the central bank cut key interest rates to support the economy. Singapore's Straits Times Index ended up 0.16 percent after half a day of trading on Christmas Eve. The Kuala Lumpur Composite Index was up 0.6 percent, reversing Friday's 0.7 percent loss, in a day of light trade.

High palm oil prices lifted buying interest in laggard plantation stocks. Singapore-listed Golden Agri shares advanced 1.6 percent on the day and was still down nearly 10 percent on the year versus a 19.7 percent gain in the broader market. Singapore and Malaysia will be shut on Tuesday. Indonesia and the Philippines are shut on Monday and Tuesday. Thai SET index was up 0.18 percent. Bangkok saw strong trading volume amid institutional-led buying for retirement mutual funds (RMF) and long-term equity funds (LTF) which offer tax breaks and often see high demand towards the end of the year.

Copyright Reuters, 2012