SE Asia Stocks-Indonesia hits 2-month high on upbeat GDP data

* Singapore's OCBC boosts index after upbeat Q2 earnings

* Indonesia's Q2 GDP growth rate at 5.27 pct y/y, beats

estimates

By Karthika Suresh Namboothiri

Aug 6 (Reuters) - Philippine and Vietnam shares were subdued

on Monday, while other Southeast Asian markets traded higher in

line with broader Asian peers, with Indonesia camping near a

two-month peak boosted by robust GDP figures.

Asia shares ex-Japan rose 0.9 percent in

early trade after the People's Bank of China (PBoC) on Friday

raised the reserve requirement on foreign exchange forward

positions, making it more expensive to bet against the Chinese

currency.

Although the PBoC had implemented a 20-percent reserve in

2015, it had failed to stop the RMB from weakening further. "It

is a strong signal. China will not hesitate to intervene in the

market should the currency depreciation risk the financial

stability," OCBC Bank said.

However, escalating trade friction between two of the

biggest economies - the United States and China - curbed further

gains in the regional markets.

"The risk of escalation of trade war may cap gains of RMB

following the announcement of PBoC to impose 20 percent reserve

ratio for long dollar forward position," OCBC Bank said.

Indonesia's economic growth rate in the second quarter was

5.27 percent, higher than expected and at the strongest pace

since 2013, statistics bureau data showed. A Reuters poll had

forecast a pace of 5.16 percent for April-June.

Shares in Southeast Asia's largest economy climbed

to their highest in two months, underpinned by gains in consumer

and telecom stocks.

Astra International rose up to 4.9 percent, while

Telekom Indonesia gained as much as 4.6 percent.

An index of the country's 45 most liquid stocks

advanced 2 percent.

Singaporean shares recovered from previous session's

losses to mark their biggest jump in nearly two weeks.

Shares of Oversea-Chinese Banking Corp were the

biggest boost on the bourse, jumping as much as 3.3 percent. The

financial services company beat market expectations with a 16

percent rise in quarterly profits.

Thai shares inched higher with PTT Public Co

rising as much as 1 percent on the back of stronger oil

prices, while Kasikornbank Public Co climbed up to

1.9 percent.

Meanwhile, Philippine shares shed recent gains to

edge lower, with industrials leading the decline; and Malaysian

stocks edged lower as losses in telecom stocks

outweighed gains in other sectors. Digi.Com Bhd lost

over 1 percent.

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SOUTHEAST ASIAN STOCK MARKETS AS AT 0434 GMT

Change on the day

Market Current Previous close Pct Move

Singapore 3291.85 3265.73 0.80

Bangkok 1712.58 1712.09 0.03

Manila 7802.07 7819.39 -0.22

Jakarta 6090.111 6007.538 1.37

Kuala Lumpur 1778.54 1780.09 -0.09

Ho Chi Minh 957.44 959.6 -0.23

Change on year

Market Current End 2017 Pct Move

Singapore 3291.85 3402.92 -3.26

Bangkok 1712.58 1753.71 -2.35

Manila 7802.07 8558.42 -8.84

Jakarta 6090.111 6355.654 -4.18

Kuala Lumpur 1778.54 1796.81 -1.02

Ho Chi Minh 957.44 984.24 -2.72

(Reporting by Karthika Suresh Namboothiri, Editing by Sherry

Jacob-Phillips)