SE Asia Stocks-Philippines extends gains; Singapore down

May 11 (Reuters) - Most Southeast Asian stocks were trading

higher on Wednesday, with the Philippines extending gains for a

second straight session after rough-talking mayor Rodrigo

Duterte emerged as the country's president-elect.

Broader Asian markets however gave up early gains, with the

MSCI's index of Asia-Pacific shares outside Japan

falling 0.1 percent, dragged down by India,

South Korea and China.

The Philippine stock index jumped 3 percent as of

0540 GMT, with financials and industrial stocks leading the

gains.

JG Summit climbed 6.5 percent, while Metropolitan

Bank was up 4.9 percent. Real estate stock SM Prime

Holdings rose 4.4 percent.

The index fell 2.3 percent last week after the presidential

elections weighed on investor sentiment as Duterte had been very

vague on what he would do to spur the economy, creating

uncertainty in the stock markets.

"From an economic perspective, we feel that fears are

overdone; Philippines will probably retain its status of bright

spot in Asia while its investment grade status is unlikely to be

impacted," Mizuho Bank said in a note on Tuesday.

It is not clear when president-elect Duterte's victory will

be officially declared but he is expected to take office on June

30.

Singapore fell, dragged down by financial stocks.

United Overseas Bank Ltd fell as much as 1.2 percent

and DBS Group Holdings was trading down 0.95 percent.

Indonesia rose 0.5 percent, led by financial stocks.

The Thai SET Index was up marginally, led by energy

stocks, with PTT PCL and Thai Oil rising more

than 1.7 percent.

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SOUTHEAST ASIAN STOCK MARKETS

STOCK MARKETS

Change on the day

Market Current prev close Pct Move

Singapore 2732.75 2741.15 -0.31

Bangkok 1391.08 1390.13 0.07

Manila 7388.1 7174.88 2.97

Jakarta 4787.181 4763.115 0.51

Kuala Lumpur 1639.42 1635.84 0.22

Ho Chi Minh 609.25 605.05 0.69

Change so far this year

Market Current End prev yr Pct Move

Singapore 2732.75 2882.73 -5.20

Bangkok 1391.08 1288.02 8.00

Manila 7388.1 6952.08 6.27

Jakarta 4787.181 4593.008 4.23

Kuala Lumpur 1639.42 1692.51 -3.14

Ho Chi Minh 609.25 579.03 5.22

(Reporting by Krishna V Kurup in Bengaluru; Editing by Biju

Dwarakanath)