SE Asia Stocks-Cautious after Fed minutes; S'pore at 18-mth peak

By Susan Mathew

Feb 23 (Reuters) - Southeast Asian stock markets, except

Singapore, moved sideways on a lack of firm cues after minutes

of a U.S. Federal Reserve meeting showed it would wait for jobs

and inflation data to meet expectations to decide on the timing

of its next rate increase.

The minutes of the Jan. 31-Feb. 1 policy discussion, at

which the U.S. central bank voted to keep rates unchanged, also

showed the depth of uncertainty at the Fed because of a lack of

clarity on President Donald Trump's economic program.

Investors are cautious about the "global uncertainties

related to Trump's economic policies as well as the interest

rate direction of the Federal Reserve, which was actually a

non-event," said Taye Shim, head of research at Mirae Asset

Sekuritas.

"So, most of the investors within the emerging markets are

pretty much on the sidelines."

Singapore shares hit fresh 18-month highs on

Thursday, led by oil and gas stocks and financials.

Keppel Corp rose 3.3 percent, while Sembcorp

Industries Ltd added 5 percent as global oil prices

rose after U.S. data showed a surprise decline in inventories.

Also, data on Thursday showed the city-state's rate of

inflation rose at its fastest pace in two years in January.

The momentum in consumer prices, combined with

stronger-than-expected economic growth at the end of 2016 and

the government's generous budget for the coming year will take

near-term monetary policy easing off the table, analysts said.

Philippine stocks closed at their highest in more

than three weeks, as energy and telecom stocks climbed.

Semirara Mining and Globe Telecom rose

more than 2.5 percent each.

Thai shares lost 0.3 percent, as consumer

non-cyclicals and energy stocks fell.

PTT Exploration and Production PCL lost 2

percent, while Charoen Pokphand Foods PCL shed nearly 1

percent.

Indonesia made small gains, while Vietnam

lost marginally.

Malaysia fell about 0.2 percent, dragged down by

Axiata Group Bhd, which lost 5.6 percent after fourth

quarter net profit declined 34 percent.

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SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON DAY

Market Current Previous Close Pct Move

Singapore 3137.57 3122.2 0.49

Bangkok 1567.32 1572.04 -0.30

Manila 7335.56 7304.45 0.43

Jakarta 5372.748 5358.683 0.26

Kuala Lumpur 1704.48 1708.08 -0.21

Ho Chi Minh 716.87 717.24 -0.05

Change on year

Market Current End 2016 Pct Move

Singapore 3137.57 2880.76 8.91

Bangkok 1567.32 1542.94 1.58

Manila 7335.56 6840.64 7.2

Jakarta 5372.748 5296.711 1.44

Kuala Lumpur 1704.48 1641.73 3.82

Ho Chi Minh 716.87 644.87 11.2

(Reporting by Susan Mathewin Bengaluru; Editing by Biju

Dwarakanath)