SE Asia Stocks-Most gain on trade truce hopes; Philippines drops

* Donald Trump signalled a possible reconciliation with China * Philippines touches a nearly two-week low * Industrial stocks help Singapore index gain By Soumyajit Saha Aug 27 (Reuters) - Most Southeast Asian stocks edged higher on Tuesday as Washington and Beijing struck a conciliatory tone, calming markets that roiled after a fresh round of trade tariffs, while Philippines dropped in catch-up trade. Supporting the market mood, U.S. President Donald Trump on Monday hailed positive gestures from China as signs of an imminent trade deal. China's top trade negotiator and Vice Premier Liu He also called for "calm" negotiations to resolve the dispute. Indonesian stocks recovered from previous session's losses to touch a nearly two-week high, underpinned by financials. Lender Bank Rakyat Indonesia (Persero) rose 1.2%, while investment holding Sinar Mas Multiartha surged as much as 19.9%. Equity markets may have found traction for now but the longer-term outlook for risk assets, buffeted repeatedly by trade concerns, remained shaky. "Whether to hang on or hang up, on the breath of relief (more than optimism) from the "call" may be irrelevant once the next Twitter feed comes through," Mizuho Bank said in a note to clients. "The bigger picture is that deep-seated issues are unlikely to be resolved on the flick of a switch or tweet," the note added. Philippine shares, which resumed trading after a holiday, dived over 2% to touch their lowest in almost two weeks. Real estate company Ayala Land was down 2.5%, while lender BDO Unibank lost 2.2%. The lack of positive catalysts in the Philippine market, coupled with negative sentiments in the property sector after China's plans to curb the Philippine offshore gaming operations were partly behind the downturn in the benchmark, said Rachelle Cruz, research analyst, AP Securities. Singapore's benchmark index also advanced, lifted by conglomerates Jardine Matheson Holdings and Jardine Strategic Holdings that climbed 2% and 0.4%, respectively. Vietnam shares traded higher, with heavyweights Vingroup JSC hitting its highest in nearly a week, and Vinhomes JSC gaining 0.8%. The Thai benchmark index flitted between positive and negative territory, as gains in energy and industrial sectors offset losses in telco stocks. Meanwhile, Thailand's manufacturing production index (MPI) in July dropped 3.23% from a year earlier, a greater fall than expected, dragged down by lower production of cars, petroleum and steel. For Asian Companies click; SOUTHEAST ASIAN STOCK MARKETS AS AT 0430 GMT STOCK MARKETS Change on the day Market Current Previous close Pct Move Singapore 3071.6 3065.33 0.20 Bangkok 1623.9 1622.73 0.07 Manila 7761.54 7889.41 -1.62 Jakarta 6260.216 6214.51 0.74 Kuala Lumpur 1597.19 1600.53 -0.21 Ho Chi Minh 985.75 982.88 0.29 Change so far in 2019 Market Current End 2018 Pct Move Singapore 3071.6 3068.76 0.09 Bangkok 1623.9 1563.88 3.84 Manila 7761.54 7,466.02 3.96 Jakarta 6260.216 6,194.50 1.06 Kuala Lumpur 1597.19 1690.58 -5.52 Ho Chi Minh 985.75 892.54 10.44 (Reporting by Soumyajit Saha, Editing by Sherry Jacob-Phillips)