SE Asia Stocks-Higher; Singapore, Philippines up 1 pct

* Malaysia rises as much as 0.9 pct

* Indonesia, Thailand both hit over 2-week highs

By Christina Martin

Feb 19 (Reuters) - Shares in Singapore and the

Philippines rose 1 percent on Monday, led by financials,

as equity markets in the region followed a global recovery after

recent volatility that stemmed from concerns over rising

inflation.

Asia shares ex-Japan rose 0.5 percent, while

Wall Street gained marginally on Friday. The rebound came after

a global equity markets sell-off triggered by worries a rise in

U.S. inflation may boost dollar funding costs.

"With the U.S. dollar heading lower, improving regional

currency sentiment, global investors are moving back into

undervalued pockets of local equity markets to pick up yield and

gain local currency exposure," said Stephen Innes, head of

trading in Asia-Pacific for Oanda in Singapore.

The dollar held above three-year lows against a basket of

currencies on Monday.

The U.S. currency has been weighed down by a variety of

factors this year, including concerns that Washington might

pursue a weak dollar strategy.

In Southeast Asia, Singapore shares hit a two-week

high, with financials and real estate stocks leading the

gainers.

Oversea-Chinese Banking Corporation Ltd added as

much as 1 percent, while Hongkong Land Holdings Ltd

rose over 2 percent.

Philippines gained for a fourth straight session, led

by industrial and financial stocks.

SM Investments Corp hit a near two-week high, while

BDO Unibank Inc rose 2.5 percent.

Malaysia jumped as much as 0.9 percent to its

highest in two weeks, led by financials and telecoms, and was on

track for a fifth straight session of gains.

The Indonesian and Thai indexes touched

their highest in more than two weeks.

Vietnam was closed for a local holiday.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS: Change at 0319 GMT

Change on day

Market Current Previous close Pct Move

Singapore 3477.85 3443.51 1.00

Bangkok 1815.16 1805.89 0.51

Manila 8698.81 8612.44 1.00

Jakarta 6633.195 6591.582 0.63

Kuala Lumpur 1853.7 1838.28 0.84

Change so far in 2018

Market Current End 2017 Pct Move

Singapore 3477.85 3402.92 2.20

Bangkok 1815.16 1753.71 3.50

Manila 8698.81 8558.42 1.64

Jakarta 6633.195 6355.654 4.37

Kuala Lumpur 1853.7 1796.81 3.17

(Reporting by Christina Martin in Bengaluru; Editing by Biju

Dwarakanath)