SE Asia Stocks-Philippine shares hit 1-yr low on heavy foreign selling

* Philippine shares fall over 3 pct

* Higher oil prices aid gains in most other markets

By Nikhil Nainan

April 19 (Reuters) - Philippine shares plummeted to their

lowest in a year on Thursday on heavy foreign selling while most

other Southeast Asian stock markets rose on the back of strong

commodity and crude oil prices.

A broad sell-off saw the Philippine index slide 3.1

percent, its sharpest intraday drop in nearly one-and-a-half

years. The index was the top loser in the region and is down

more than 11 percent so far this year.

SM Investments Corp and SM Prime Holdings Inc

were the biggest losers on the index, down 3 percent

and 3.9 percent, respectively.

"In the past few days, we have been seeing heavy foreign

selling, reflecting concerns about rising inflation," said

Jonathan Ravelas, chief market strategist at BDO Unibank.

"Investors are waiting to see how the government will

address these concerns."

In early April, Governor Nestor Espenilla signalled a

near-term rate hike might be on the cards after inflation

accelerated at its fastest pace in five years last month.

There have also been reports of large-scale selling in index

stocks by a broker.

The market is quite oversold, said Manny Cruz, an analyst at

Asiasec Equities Inc.

"I think the market is in for some recovery in the near term

ahead of GDP and first-quarter corporate earnings."

Most other markets in the region responded positively to

strong metal and oil prices, with MSCI's broadest index of

Asia-Pacific shares outside Japan gaining 0.8

percent.

Brent crude oil futures touched late-2014 highs as

U.S. crude inventories declined and as top exporter Saudi Arabia

is expected to keep withholding supply.

Thai shares rose as much as 0.7 percent supported by

strong gains in energy stocks.

Oil explorer PTT Exploration and Production PCL

and oil distributor PTT PCL rose 5.3 percent and 2.9

percent, respectively.

The index is on track for an eighth session of gains in

nine.

Malaysian shares climbed 0.4 percent to their

highest since July 2014.

Petronas Dagangan Bhd, the principal marketer for

oil giant Petronas, shouldered much of the gains, up 4.2

percent.

Singapore shares soared 1.2 percent to a 12-week

high, helped by robust gains in financials.

DBS Group Holdings Ltd, Oversea-Chinese Banking

Corporation Ltd and United Overseas Bank Ltd

gained between 1.9 percent and 2.2 percent.

Vietnam, down 1.6 percent, extended losses for a

fourth session in five.

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SOUTHEAST ASIAN STOCK MARKETS

Change at 0422 GMT

Market Current Previous close Pct Move

Singapore 3599.5 3557.82 1.17

Bangkok 1784.39 1771.56 0.72

Manila 7543.49 7793.13 -3.20

Jakarta 6330.563 6320.005 0.17

Kuala Lumpur 1887.28 1879.32 0.42

Ho Chi Minh 1121.01 1138.53 -1.54

Change on year

Market Current End 2017 Pct Move

Singapore 3599.5 3402.92 5.78

Bangkok 1784.39 1753.71 1.75

Manila 7543.49 8558.42 -11.86

Jakarta 6330.563 6355.654 -0.39

Kuala Lumpur 1887.28 1796.81 5.04

Ho Chi Minh 1121.01 984.24 13.90

(Reporting by Nikhil Kurian Nainan; additional reporting by

Enrico Dela Cruz and Nicole Pinto)