SE Asia Stocks-Most rise; Malaysia heads for longest winning streak in nearly 3 years

* Singapore rises 1.2 pct to over 2-week high

* Indonesia extends gains ahead of cenbank meeting

By Karthika Suresh Namboothiri

July 19 (Reuters) - Most Southeast Asian stock markets rose

on Thursday, with Malaysia heading for its longest winning

streak in nearly three years, as upbeat earnings on Wall Street

and Federal Reserve Chairman Jerome Powell's view that the U.S.

economy was healthy boosted investor sentiment.

In his two-day testimony, Powell said nothing about the

Fed's two more rate increases this year, but the economy was

poised for several more years of growth.

Singapore shares climbed as much as 1.2 percent to a

more than two-week top with financials leading the gains. DBS

Group Holdings rose 1.5 percent and United Overseas

Bank Ltd advanced 1.6 percent.

Malaysian shares advanced for a ninth straight

session in what could be their longest winning streak since

October 2015. The index has gained 5.4 percent in the last eight

sessions of gains, and 2.3 percent so far this week.

Malayan Banking Bhd rose 2.6 percent, while Public

Bank Bhd gained 1.3 percent.

The annual inflation rate slowed to its lowest in more than

three years in June, data released on Wednesday showed, after

the government abolished a goods and services tax. However,

economists said this was unlikely to lead to any change in

monetary policy.

"Lower inflation will allow a greater scope for the central

bank (Bank Negara Malaysia) to keep the monetary policy stable

for a prolonged period, or even ease in the event the global

trade war adversely impacts the economy," ING said in a note.

Indonesian shares rose for a second straight session

ahead of a central bank policy meeting where it is expected to

take a pause in its monetary tightening cycle.

Astra International was the biggest boost with a

gain of 1.5 percent.

Thai shares extended gains into a second session on

the back of financials, while Vietnam stocks were little

changed.

Meanwhile, Philippine shares declined, dragged by

financials and real estate stocks.

The index has been on a rally for the past two weeks, and

investors are resorting to profit-taking, said Charles William

Ang, associate analyst at COL Financial Group.

Ayala Corp fell 2.5 percent and SM Prime Holdings

declined 1.4 percent.

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SOUTHEAST ASIAN STOCK MARKETS AS AT 0417 GMT

Market Current Previous close Pct Move

Singapore 3271.5 3240.5 0.96

Bangkok 1641.04 1635.85 0.32

Manila 7406.42 7451.37 -0.60

Jakarta 5910.012 5890.731 0.33

Kuala Lumpur 1761.13 1753.07 0.46

Ho Chi Minh 942.59 942.39 0.02

Change on year

Market Current End 2017 Pct Move

Singapore 3271.5 3402.92 -3.86

Bangkok 1641.04 1753.71 -6.42

Manila 7406.42 8558.42 -13.46

Jakarta 5910.012 6355.654 -7.01

Kuala Lumpur 1761.13 1796.81 -1.99

Ho Chi Minh 942.59 984.24 -4.23

(Reporting by Karthika Suresh Namboothiri; Additional reporting

by Nikhil Nainan

Editing by Subhranshu Sahu)