SE Asia Stocks-Indonesia rises 1 pct as cbank signals pause on rate cuts

By Aaron Saldanha

Sept 29 (Reuters) - Indonesian shares rose a little over 1

percent on Friday, as signs that the country's central bank was

moving to pause on rate cuts lifted financials, while Thailand

edged up as a double-digit growth in exports cheered investors.

Indonesia's central bank governor said on Friday that two

cuts in its benchmark rate in the last two months are

"sufficient", after it surprised markets by reducing it

by a total of 50 basis points to spur economic

growth.

The Indonesian index closed slightly above 1

percent, boosted by Bank Rakyat Indonesia and Bank

Central Asia.

The index eked out a marginal 0.6 percent increase on month.

Thailand settled up 0.4 percent, supported by data

showing exports grew about 16 percent, boosting the country's

current account surplus.

Consumer staples and financials led the gains, with

convenience store operator CP All Pcl hitting a

record closing high.

Thai shares ended September up 3.5 percent, their best month

since July last year.

The Philippine index edged up, as telecom stocks and

utilities climbed.

Telecom provider PLDT Inc closed up 3.8 percent.

The index posted a 2.7 percent monthly increase.

Singapore fell 0.2 percent, ending the week steady,

as financials dragged.

"Singapore banks have still relatively held up pretty well,"

said Joel Ng, an analyst with Singapore-based KGI Securities.

"They have had a good run with 25 percent gains over the last

year."

DBS Group Holdings, the largest lender by market

capitalisation, fell 0.4 percent. It has however risen about s38

percent over the last one year up to Thursday's close.

Oversea-Chinese Banking Corp and United Overseas

Bank Ltd, which both lost more than 0.5 percent on

Friday, have gained over 25 percent during the same period.

Malaysian shares closed at a two-month low, their

ninth straight session of losses, the worst losing streak in

more than seven years.

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SOUTHEAST ASIAN STOCK MARKETS: Change on day

Market Current Previous Close Pct Move

Singapore 3219.91 3227.14 -0.22

Bangkok 1673.16 1666.36 0.41

Manila 8171.43 8156.04 0.19

Jakarta 5900.854 5841.047 1.02

Kuala Lumpur 1755.58 1758.06 -0.14

Ho Chi Minh 804.42 804.82 -0.05

Change on year

Market Current End 2016 Pct Move

Singapore 3219.91 2880.76 11.77

Bangkok 1673.16 1542.94 8.44

Manila 8171.43 6840.64 19.45

Jakarta 5900.854 5296.711 11.41

Kuala Lumpur 1755.58 1641.73 6.93

Ho Chi Minh 804.42 664.87 20.99

(Reporting by Aaron Saldanha; Editing by Biju Dwarakanath)