SE Asia Stocks-Philippines falls; S'pore hits highest close in 10 yrs

* Philippines slides from previous day's record close

* Singapore marks fourth straight gaining session

* Vietnam shut for second day due to technical issues

By Susan Mathew

Jan 24 (Reuters) - Philippine stock market fell sharply on

Wednesday from a record finish as shares slipped across the

board, while Singapore climbed to its highest close in a decade.

Philippine shares closed down 0.9 percent, after

three straight sessions of gains that lifted the market to a

record closing high on Tuesday.

The Philippine finance ministry plans to submit a tax

package, which aims to adjust taxes on alcohol, tobacco, mining

and coal, and that may be weighing on the market, said Benjamin

Ngan, a research analyst with RCBC Securities in Manila.

President Rodrigo Duterte last week proposed to cut the

corporate tax rate and rationalise fiscal incentives to

investors in the second of five tax-reform packages submitted to

Congress.

Conglomerate JG Summit Holdings shed 3 percent,

making it the biggest drag on the index.

Meanwhile, Malaysian shares were marginally lower

ahead of its central bank's meeting on Thursday, in which it is

expected to raise interest rates.

Data out earlier in the session showed that the nation's

2017 inflation of 3.7 percent stood within the central bank's

target range of 3-4 percent, with consumer price index rising

3.5 percent in December, meeting expectations.

Singapore shares firmed 0.5 percent in their fourth

straight winning session, with lender DBS Group Holdings and

consumer stock Genting Singapore leading the gains, up

1.2 percent and 4.5 percent, respectively.

Indonesian shares ended 0.3 percent lower, with

Telekomunikasi Indonesia Tbk and Bank Rakyat Indonesia

driving the losses, down 2.7 percent and 2.3 percent,

respectively.

Vietnam's stock exchange remained shut for a second day due

to technical issues.

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SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON DAY

Market Current previous close Pct Move

Singapore 3609.24 3592.08 0.48

Bangkok 1838.96 1831.78 0.39

Manila 8920.23 8999.02 -0.88

Jakarta 6615.492 6635.334 -0.30

Kuala Lumpur 1837.04 1838.04 -0.05

Change on year

Market Current End 2017 Pct Move

Singapore 3609.24 3402.92 6.06

Bangkok 1838.96 1753.71 4.86

Manila 8920.23 8558.42 4.23

Jakarta 6615.492 6355.654 4.09

Kuala Lumpur 1837.04 1796.81 2.24

(Reporting by Susan Mathew in Bengaluru; Editing by Amrutha

Gayathri)