SE Asia Stocks-Indonesia hits over 4-wk high on rupiah surge

By Anusha Ravindranath

Sept 27 (Reuters) - Indonesian stocks recouped early losses

to hit their highest in more than four weeks on Tuesday after

the rupiah surged to a 17-month peak on likely inflows

from a tax amnesty programme.

The Indonesian currency hits its highest level since April

2015 on suspected inflows into the first phase of the country's

tax amnesty programme, where participants will be charged with

the lowest fee and which ends on Sept. 30.

Risk appetite also improved after investors judged U.S.

Democrat presidential runner Hillary Clinton the winner of the

first debate with Republican opponent Donald Trump.

In signs that investors awarded the debate to Clinton, Asian

shares recovered from an early bout of nerves, while most

regional currencies strengthened including the Philippine peso,

which rebounded after hitting a 7-year low early in the day.

Basic materials and energy stocks led gains in Indonesia

with Vale Indonesia Tbk PT and J Resources

Asia Pasifik Tbk PT among the best performers.

"Trump is not very foreign-friendly," said Harry Su, an

analyst with Jakarta-based Bahana Securities. A win for Hillary

would benefit Southeast Asian countries, particularly Indonesia

because "we are basically Islamic-based," he added.

Trump is seen as negative for emerging Asian countries as he

is perceived to be more protectionist on international trade,

vowing to renegotiate some trade agreements.

Singapore shares closed higher with blue-chips such

as Singapore Airlines and Singapore Telecommunications

Ltd among the top gainers.

Philippine stocks fell for the third straight

session, dragged down by consumer non-cyclicals and financial

stocks. JG Summit Holdings Inc and BDO Unibank Inc

were among the top losers.

Vietnam stocks closed up over 1 percent, driven by

gains in financials and energy sector.

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SOUTHEAST ASIAN STOCK MARKETS

STOCK MARKETS

Change on the

day

Market Current previous Pct Move

close

Singapore 2860.23 2849.94 0.36

Bangkok 1489.39 1490.14 -0.05

Manila 7557.34 7632.46 -0.98

Jakarta 5419.604 5352.139 1.26

Kuala Lumpur 1664.72 1669.5 -0.29

Ho Chi Minh 684.89 677.04 1.16

Change so far

this year

Market Current End prev yr Pct Move

Singapore 2860.23 2882.73 -0.78

Bangkok 1492.35 1288.02 15.86

Manila 7557.34 6952.08 8.71

Jakarta 5419.604 4593.008 18.00

Kuala Lumpur 1664.72 1692.51 -1.64

Ho Chi Minh 684.89 579.03 18.28

(Reporting by Anusha Ravindranath in Bengaluru; Editing by

Sunil Nair)