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SE Asia Stocks-Philippines falls 2 pct on widening trade deficit

* Singapore trims early gains to close slightly higher

* Indonesia gains for seventh consecutive session

By Nikhil Subba

Nov 7 (Reuters) - Philippine shares fell 2 percent on

Wednesday following disappointing September trade deficit data,

while other Southeast Asian markets closed marginally higher as

investors became more optimistic about trade negotiations

between Beijing and Washington after the U.S. midterm elections

results.

As expected, the elections resulted in a split Congress,

with the Democrats winning control of the House of

Representatives, which gives them the power to intercept

President Donald Trump's business-friendly agenda and other

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policies, including U.S.-China trade relations.

"We have a virtuous environment for a year-end rally over

the next couple of weeks, notwithstanding the election results,"

said Liu Jinshu, director of research at NRA Capital.

However, the prospect of a political gridlock arises with

the split Congress, creating some uncertainty for investors.

Investors also awaited a two-day meeting of the Federal

Reserve starting later in the day to gauge the outlook for U.S.

monetary policy.

In Southeast Asia, Philippine shares extended falls

into a second session, dragged mainly by SM Investments Corp

and PLDT Inc.

SM Investments fell 4.4 percent to a near two-week closing

low, while PLDT declined 5.6 percent to its lowest close since

late September.

Data released earlier in the day showed imports hit an

all-time high in September while exports remained weak, bringing

the trade deficit to the highest in nine months amid sustained

purchases of capital goods needed for the government's

infrastructure overhaul.

Singapore shares gave up earlier gains to close

marginally higher. Keppel Corp rose nearly 2 percent,

while Sembcorp Industries declined 0.7 percent.

Malaysian shares climbed for a second session in

three, helped primarily by telecommunication and industrial

stocks.

Malaysia Airports Holdings was the top percentage

gainer on the benchmark stock index with an about 8 percent

jump, while mobile communication service provider Digi.com

rose 3.7 percent to a near 3-week closing high.

Meanwhile, the country's gross international reserves edged

down to $101.7 billion as of Oct. 31 from $102.8 billion as of

Oct. 15, the central bank said.

Indonesian shares closed higher for a seventh

session in a row on the back of gains in industrials.

Construction firm Totalindo Eka Persada climbed 1

percent, while Waskita Karya surged nearly 10 percent.

Thai shares snapped two straight sessions of falls,

buoyed by utilities. Electricity producer Banpu Power

gained 2.5 percent, while Glow Energy rose almost a

percent.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS

Change on day

Market Current Previous Pct Move

Close

Singapore 3064.31 3060.62 0.12

Bangkok 1672.44 1669.33 0.36

Manila 7033.93 7180.11 -2.04

Jakarta 5939.886 5923.93 0.27

Kuala Lumpur 1714.88 1708.8 0.36

Ho Chi Minh 922.16 922.05 0.01

Change on year

Market Current End 2017 Pct Move

Singapore 3064.31 3402.92 -9.95

Bangkok 1672.44 1753.71 -4.47

Manila 7033.93 8558.42 -17.81

Jakarta 5939.886 6355.654 -6.54

Kuala Lumpur 1714.88 1796.81 -4.56

Ho Chi Minh 922.16 984.24 -6.31

($1 = 32.8200 baht)

(Reporting by Nikhil Subba; Editing by Subhranshu Sahu)