SE Asia Stocks-Most gain; S'pore falls on policy tightening worries

By Sumeet Gaikwad

Nov 23 (Reuters) - Most Southeast Asian stock markets edged

higher on Thursday, in line with broader Asia, after minutes of

the U.S. Federal Reserve meeting indicated that policy

tightening might not be as aggressive as previously expected.

Asian shares outside Japan rose 0.3 percent,

to a fresh decade high, while the dollar languished and U.S.

treasury yields weakened on expectations of a weaker rate rise

cycle ahead.

However, Singapore shares edged lower on worries of a

tighter monetary policy after third-quarter data showed the

city-state's economy grew at its fastest pace in nearly four

years.

The benchmark index inched down 0.1 percent as gains

in industrials were more than offset by losses in real estate

and consumer staples stocks.

Lender OCBC weighed on the index, dropping 0.3

percent, while Capitaland Commercial Trust fell 2.2

percent.

Singapore and other trade-reliant economies in Asia have

received a boost this year from an improvement in global demand,

with most countries reporting better-than-expected growth

figures.

Philippine shares rose 0.5 percent, buoyed by

industrial stocks.

"Financials are rising on expectations that the government

will be able to pass the tax reform bill," said an analyst from

Manila, who did not want to be named.

The Philippine tax reform bill, aimed at generating revenue

to fund a multi-billion dollar infrastructure program key to the

government's economic agenda, was passed by the lower house of

Congress in May. The reform still needs Senate approval.

Index heavyweights SM Investments Corp rose 1.7

percent, while BDO Unibank Inc gained 1.3 percent.

Indonesian stocks edged lower, while the index of

the country's 45 top liquid stocks climbed 0.1

percent.

Thai shares edged up 0.3 percent with energy and

real estate stocks leading the gains, while Malaysian shares

rose, led by financial and industrial stocks.

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SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0345 GMT

STOCK MARKETS

Change on day

Market Current Previous Close Pct Move

Singapore 3427.58 3430.02 -0.07

Bangkok 1717.65 1713.13 0.26

Manila 8304.98 8265.68 0.48

Jakarta 6064.946 6069.785 -0.08

Kuala Lumpur 1724.96 1723.54 0.08

Ho Chi Minh 938.63 932.66 0.64

Change on year

Market Current End 2016 Pct Move

Singapore 3427.58 2880.76 18.98

Bangkok 1717.65 1542.94 11.32

Manila 8304.98 6840.64 21.41

Jakarta 6064.946 5296.711 14.50

Kuala Lumpur 1724.96 1641.73 5.07

Ho Chi Minh 938.63 664.87 41.17

(Reporting by Sumeet Gaikwad in Bengaluru, Adittional reporting

by Aditya Soni; Editing by Amrutha Gayathri)