SE Asia Stocks-Most subdued ahead of holidays; Singapore up after 6 sessions of falls

By Nikhil Nainan

Dec 22 (Reuters) - Singapore shares rose slightly on Friday

after six consecutive sessions of declines, while most other

Southeast Asian markets were subdued in thin trade ahead of a

long holiday weekend.

Asian stocks edged up after Wall Street rose on economic

data pointing to steady economy growth in the United States.

The U.S economy grew at its fastest pace in more than two

years in the third quarter, concluding a fairly positive week

for the United States, although growth came in slightly lower

than forecasts.

Investor sentiment has recently been upbeat following the

passage of the U.S. tax bill and as Congress averted a

government shutdown a day before federal funding was due to

expire.

Singapore shares rose 0.3 percent, buoyed by gains in

financials, but were down 0.7 percent this week in what could be

their third weekly drop.

Top lenders Oversea-Chinese Banking Corp and DBS

Group Holdings gained 1.1 percent and 0.8 percent,

respectively.

Philippine shares slipped ahead of November budget

deficit data expected later in the day.

In October, the country had posted a budget deficit of 21.8

billion pesos ($433.87 million), much wider than the gap a year

earlier.

Losses in industrials slightly outweighed gains in

financials. Aboitiz Equity Ventures Inc and LT Group

Inc dropped 1.7 percent and 2.5 percent, respectively.

Indonesian shares edged down after closing at a

record high on Thursday. Ratings agency Fitch upgraded the

credit ratings of Southeast Asia's largest economy on Thursday,

saying economic and monetary policies had made the economy

resilient to external shocks.

Gains in energy and financial stocks were offset by telecom

stocks.

United Tractors Tbk PT and Bank Central Asia Tbk

PT rose 1.9 percent and 0.5 percent respectively,

while Telekomunikasi Indonesia (Persero) Tbk Perusahaan

Perseroan PT declined 0.7 percent.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0334 GMT

Market Current Previous close Pct Move

Singapore 3391.71 3382.53 0.27

Bangkok 1738.84 1736.91 0.11

Manila 8371.12 8378.28 -0.09

Jakarta 6177.709 6183.391 -0.09

Kuala Lumpur 1750.45 1751.21 -0.04

Ho Chi Minh 949.68 946.06 0.38

Change so far this year

Market Current End 2016 Pct Move

Singapore 3391.71 2880.76 17.74

Bangkok 1738.84 1542.94 12.70

Manila 8371.12 6840.64 22.37

Jakarta 6177.709 5296.711 16.63

Kuala Lumpur 1750.45 1641.73 6.62

Ho Chi Minh 949.68 664.87 42.84

($1 = 50.2450 Philippine pesos)

(Reporting by Nikhil Kurian Nainan in Bengaluru; Editing by

Subhranshu Sahu)