SE Asia Stocks-Largely up; Singapore posts 15-mth closing high

By Urvashi Goenka

Feb 9 (Reuters) - Most Southeast Asian stock markets closed

higher on Thursday as investors grew more confident about China,

with Singapore bouncing back from its previous session's losses

to post its highest close in 15 months on the back of strong

corporate earnings.

A rally in commodity prices in recent weeks led by copper

and iron ore along with gentle policy tightening by Beijing via

money market rates, had led to a more optimistic view of Chinese

corporate earnings, analysts said.

Earnings growth for MSCI China is expected at nearly 15

percent over the next 12 months, slightly ahead of 13 percent

projected for companies in MSCI Asia outside Japan, according to

Thomson Reuters data.

"Developed markets are looking better, China has

stabilised," said Linus Loo, head of research at Lim & Tan

Securities.

Singapore shares closed at their highest level since

October 2015 with telecoms and industrials driving the gains.

Singapore Telecommunications Ltd rose 1 percent on

the back of strong quarterly earnings.

Singapore Technologies Engineering Ltd and

Singapore Airlines Ltd were among the biggest gainers,

rising 1 percent and 1.4 percent, respectively.

Singapore Airlines announced a $13.8 billion order to buy 39

Boeing wide-body aircraft.

Philippine shares rose for the first time in three

sessions on the back of gains in financial and telecom stocks.

After market hours, the Philippine central bank kept its

benchmark interest rate unchanged at 3 percent, with inflation

edging up but expected to remain within its comfort zone for

sometime.

PLDT Inc rose 4.4 percent, while Ayala Corp

gained 1.2 percent.

Indonesian shares closed slightly higher, helped by

financial stocks, while Thailand fell 0.4 percent with

financials being the biggest losers.

Malaysia was closed for a public holiday.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS: Change on day

Market Current previous Pct Move

close

Singapore 3079.96 3066.53 0.44

Bangkok 1583.25 1589.29 -0.38

Manila 7252.66 7234.82 0.25

Jakarta 5372.077 5361.088 0.20

Ho Chi Minh 700.65 702.04 -0.20

Change so far

this year

Market Current End 2016 Pct Move

Singapore 3079.96 2880.76 6.91

Bangkok 1583.25 1542.94 2.61

Manila 7252.66 6840.64 6.02

Jakarta 5372.077 5296.711 1.42

Ho Chi Minh 700.65 664.87 5.38

(Reporting by Urvashi Goenka; Editing by Subhranshu Sahu)