SE Asia Stocks-Philippines hits fresh high; others fall

By Binisha Ben

Sept 21 (Reuters) - Philippine shares rose to a record high

on Thursday while other Southeast Asian stock markets slipped,

in line with broader Asia, after the U.S. Federal Reserve

announced a plan to start shrinking its balance sheet and

signalled one more rate hike later this year.

MSCI's broadest index of Asia-Pacific shares outside Japan

fell 0.3 percent.

The U.S. Federal Reserve left interest rates unchanged on

Wednesday, but signalled it still expects one more increase by

the end of the year despite a recent bout of low inflation

data.

The Philippines index extended gains to a second

session and ended 0.8 percent higher after earlier hitting an

all-time high of 8,321.81.

"Philippine stocks soared once again, testing record highs

in reaction to the latest Federal Open Market Committee minutes

and in anticipation of the outcome of the country's central bank

meeting," said Luis Gerardo Limlingan, managing director at

Regina Capital Development Corp.

After market hours on Thursday, the Philippine central bank

left its benchmark interest rate unchanged at 3

percent as expected. The central bank also kept its inflation

forecasts for 2017, saying consumer prices remain manageable and

the future inflation path will stay within its target of 2-4

percent for the year.

In August, Philippines' annual inflation had quickened for

the second straight month to 3.1 percent, from 2.8 percent the

month before, due mainly to higher food prices.

Thai shares ended the day marginally lower despite

positive export trade data.

Thailand's customs-cleared annual exports in August grew at

their fastest pace since January 2013, climbing 13.2 percent

from a year earlier, handily beating a Reuters poll forecast of

a 4.93 percent rise, and against July's 10.5 percent

growth.

Materials and financial stocks weighed down the index, with

Kasikornbank Pcl and Siam Cement Pcl

shedding 1.4 percent and 0.8 percent, respectively.

Singapore shares were down 0.1 percent, hurt by

industrials and real estate stocks. Jardine Matheson Holdings

and Ascendas Real Estate Investment Trust

led the decline, falling 2.4 percent and 1.5 percent,

respectively.

Indonesia market was closed for a local holiday.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS : Change on day

Market Current Previous Pct Move

Close

Singapore 3213.82 3218.07 -0.13

Bangkok 1670.49 1670.65 -0.01

Manila 8286.86 8219.32 0.82

Kuala Lumpur 1771.04 1773.58 -0.14

Ho Chi Minh 803.93 805.86 -0.24

Change on year

Market Current End 2016 Pct Move

Singapore 3213.82 2880.76 11.56

Bangkok 1670.49 1542.94 8.27

Manila 8286.86 6840.64 21.14

Kuala Lumpur 1771.04 1641.73 7.88

Ho Chi Minh 803.93 664.87 20.92

(Reporting by Binisha Ben in Bengaluru, additional reporting by

Enrico delaCruz; Editing by Vyas Mohan)