SE Asia Stocks-Philippines, Singapore recover on bargain-hunting

By Niyati Shetty

Oct 3 (Reuters) - The Philippine index snapped a three-day

losing streak on Wednesday and ended more than 1 percent higher

as investors picked up battered shares while Singapore hit a

near eight-week closing high, helped by gains in financials and

consumer stocks.

The Manila index rose 1.1 percent to 7210.87, led by

gains in real estate and industrial stocks. Ayala Land

rose 3.1 percent while JG Summit Holdings jumped 4

percent.

"Most likely, some investors are trying to find bargains as

7,100 is expected to be a technical support level. But, the

rally is not driven by fundamentals," said April Lee-Tan, head

of research at COL Financial INC.

Meanwhile, investors are keenly awaiting Philippines annual

inflation data due on Friday. The annual inflation rate likely

continued to climb in September, a Reuters poll showed, keeping

pressure on the country's central bank to raise interest rates

further.

"The market has been anticipating a bad number."

Among other markets in the region, the Singapore index

rose 0.8 percent, led by lender DBS Holdings,

up 1.3 percent, and Thai Beverage, up 6 percent.

Indonesian shares finished 0.1 percent lower,

dragged down by consumer staples and materials sectors, as

caution set in after the country's central bank governor said

interest rates must be increased before the Federal Reserve

raises U.S. rates to avoid "drastic capital reversals".

The index of the country's 45 most liquid stocks

was down 0.4 percent.

Thai shares slid 0.4 percent while the Vietnam index

fell 0.2 percent.

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SOUTHEAST ASIAN STOCK MARKETS

Change on the day

Market Current Previous close Pct Move

Singapore 3267.4 3242.65 0.76

Bangkok 1741.96 1748.09 -0.35

Manila 7210.87 7132.36 1.10

Jakarta 5867.737 5875.619 -0.13

Kuala Lumpur 1796.3 1798.15 -0.10

Ho Chi Minh 1020.4 1018.79 0.16

Change on year

Market Current End 2017 Pct Move

Singapore 3267.4 3402.92 -3.98

Bangkok 1741.96 1753.71 -0.67

Manila 7210.87 8558.42 -15.75

Jakarta 5867.737 6355.654 -7.68

Kuala Lumpur 1796.3 1796.81 -0.03

Ho Chi Minh 1020.4 984.24 3.67

(Reporting by Niyati Shetty; Editing by Vyas Mohan)