SE Asia Stocks-Philippines snaps 3-day losing streak; Singapore rises

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By Aaron Saldanha

Sept 27 (Reuters) - Most Southeast Asian stock markets

trimmed losses to end flat on Wednesday, as investors digested

comments by U.S. Federal Reserve Chair Janet Yellen on a

possible rate increase, with the Philippine index snapping three

sessions of declines and Singapore up on financials.

Yellen said on Tuesday that it would be "imprudent" to keep

monetary policy on hold until inflation is back up to 2 percent.

Philippine shares rose 0.6 percent, recovering from a

0.7 percent drop earlier in the day.

As of Tuesday's close, the Philippine index, the region's

second best performer this year, has shed 1.8 percent from a

record high touched last Thursday.

Energy Development Corp was the top percentage

gainer on the index, closing up 12.9 percent at 5.42 pesos on

market speculation over a possible delisting.

"There have been a lot of buyers in hopes that when the

company gets fully delisted, some shares still need to be

tendered," said Theodore Tan, an analyst with Manila-based AP

Securities. "They are hoping shares to be 7.00-7.25 pesos per

share."

The Singapore index closed 0.8 percent higher on

financials, with DBS Group Holdings, the city-state's

biggest lender by market capitalisation, and United Overseas

Bank propping up the index.

A likely Fed rate hike in December is causing optimism in

the sector, said a Singapore-based analyst who declined to be

named.

Thai equities closed little changed after the

country's central bank kept the benchmark interest rate

unchanged at 1.5 percent, as expected.

Indonesia and Malaysia were down marginally,

while Vietnam slipped 0.2 percent.

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SOUTHEAST ASIAN STOCK MARKETS: Change on day

Change on day

Market Current Previous Close Pct Move

Singapore 3236.15 3212.04 0.75

Bangkok 1670.27 1669.75 0.03

Manila 8221.92 8170.14 0.63

Jakarta 5863.027 5863.962 -0.02

Kuala Lumpur 1764.24 1765.59 -0.08

Ho Chi Minh 803.77 805.35 -0.20

Change on year

Market Current End 2016 Pct Move

Singapore 3236.15 2880.76 12.34

Bangkok 1670.27 1542.94 8.25

Manila 8221.92 6840.64 20.19

Jakarta 5863.027 5296.711 10.69

Kuala Lumpur 1764.24 1641.73 7.46

Ho Chi Minh 803.77 664.87 20.89

(Reporting by Aaron Saldanha in Bengaluru,; Additional

reporting by Chris Thomas; Editing by Biju Dwarakanath)