SE Asia Stocks-Most up on easing N. Korea tensions

* Philippines leads gainers in region

* Thai shares on track for eighth straight session of losses

* Most indexes set to fall on week

By Susan Mathew

March 9 (Reuters) - Most Southeast Asian stock markets rose

on Friday as investors cheered U.S. President Donald Trump's

decision to meet with North Korean leader Kim Jong Un, and the

White House agreed to exempt Canada and Mexico from higher

import tariffs.

Trump's move could mark a potentially dramatic breakthrough

in nuclear tensions with Pyongyang, and the meeting could take

place as early as May. This came after Kim Jong Un agreed to

suspend nuclear or missile tests.

Separately, Trump pressed ahead with tariffs on steel and

aluminium but gave conditional exemptions for Canada and Mexico,

offering at least the hope that a full-blown global trade war

could be averted.

Asia shares ex-Japan rose 0.6 percent, while

Japan's Nikkei rallied more than 2 percent early on.

Manny Cruz, an analyst at Manila-based Asiasec Equities Inc,

said the political developments could "diffuse tension between

the two nations. The risk of geopolitical concerns are waning."

In Southeast Asia, Singapore shares rose 0.2 percent,

as industrials Jardine Strategic and Singapore

Technologies climbed 0.8 percent and 0.3 percent,

respectively.

Philippine stocks were up, as financials and utility

stocks rose, with BDO Unibank up 1.3 percent and

Aboitiz Equity Ventures adding 1.7 percent.

Data on Friday showed the country's exports grew at their

slowest pace in more than one year in January.

Thai shares fell for an eighth straight session as

energy stock lost ground. PTT Pcl and Energy Absolute

were among the biggest drags on the index.

Indonesian shares declined 0.5 percent, after

closing more than 1 percent higher on Thursday.

Bank Central Asia and conglomerate Astra

International fell 0.8 percent and 1.3 percent,

respectively.

Most Southeast Asian stock markets are, however, set to post

losses this week.

Sentiment may be impacted ahead of U.S. non-farm payrolls

data, due later in the global day, Cruz said.

"Most of the equities will look for further direction from

how the Fed will react to the American jobs data."

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SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0351 GMT

Market Current Previous Pct Move

close

Singapore 3486 3480.44 0.16

Bangkok 1772.44 1778.9 -0.36

Manila 8398.51 8381.85 0.20

Jakarta 6424.483 6443.021 -0.29

Kuala Lumpur 1842.47 1839.62 0.15

Ho Chi Minh 1126.89 1124.15 0.24

Change on year

Market Current End 2017 Pct Move

Singapore 3486 3402.92 2.44

Bangkok 1772.44 1753.71 1.07

Manila 8398.51 8558.42 -1.87

Jakarta 6424.483 6355.654 1.08

Kuala Lumpur 1842.47 1796.81 2.54

Ho Chi Minh 1126.89 984.24 14.49

(Reporting Susan Mathew in Bengaluru; Editing by Biju

Dwarakanath)