SE Asia Stocks-Rise tracking Asia, Wall St; Philippines hits record high

By Sumeet Gaikwad

Oct 6 (Reuters) - Southeast Asian markets rose on Friday

tracking broader Asia after Wall Street scaled a new peak on

optimism over U.S. tax reform plans, with Philippine shares

gaining over 1 percent to a fresh high.

The S&P 500 posted its sixth straight record high close on

Thursday, its longest run since 1997, as investors cheered

increased prospects for a tax overhaul with Congress moving

closer to agreement on a budget resolution.

In a procedural step forward, the Republican-controlled

House of Representatives approved a fiscal 2018 spending

blueprint to help advance an eventual tax bill.

In Southeast Asia, Philippine shares rose as much as

1.4 percent to an all-time high, led by gains in industrials.

The index is on track for a fifth session of gains in six.

Index heavyweights SM Investments Corp rose 2.2

percent to an all-time high while JG Summit was up 4.8

percent.

"Even with foreign selling, we were able to reach new highs

in the past few weeks on the strength of local buying alone,"

said Jeffrey Lucero, an equity analyst at Manila-based RCBC

Securities.

The consumer price index in the Philippines rose 3.4 percent

in September, above economists' forecast of a 3.2 percent rise,

but was still within the central bank's forecast of 2.8-3.6

percent for that month.

The Jakarta stock index rose marginally, buoyed by

material and energy stocks.

Cement manufacturer Semen Indonesia climbed 2.4

percent while Adaro Energy rose 2.5 percent.

The index of the country's 45 most liquid stocks

rose 0.1 percent.

Singapore shares were up 0.5 percent with real estate

and financial stocks leading the gains.

UOL Group Ltd rose nearly 4 percent to a record

high, its biggest jump in over three month, while Jardine

Matheson Holdings Ltd added 0.7 in early trade.

Malaysia stocks recovered from losses in the

previous session and rose marginally, helped by telecom and

industrial stocks.

Digi.Com and Sime Derby rose 0.8 percent

and 0.1 percent, respectively.

Thai equities gained 0.4 percent, and were on track

for their second straight session of gains, bolstered by energy

and consumer staple stocks.

Thai Oil Pcl rose as much as 4.5 percent to hit a

near 10-year peak while CP All Pcl was up 1.5

percent.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0428 GMT

Change on day

Market Current Previous Pct Move

Close

Singapore 3278.56 3261.84 0.51

Bangkok 1696.97 1690.87 0.36

Manila 8373.32 8294.01 0.96

Jakarta 5904.084 5901.906 0.04

Kuala Lumpur 1759.79 1759.09 0.04

Ho Chi Minh 805.33 805.23 0.01

Change on year

Market Current End 2016 Pct Move

Singapore 3278.56 2880.76 13.81

Bangkok 1696.97 1542.94 9.98

Manila 8373.32 6840.64 22.41

Jakarta 5904.084 5296.711 11.47

Kuala Lumpur 1759.79 1641.73 7.19

Ho Chi Minh 805.33 664.87 21.13

(Reporting by Sumeet Gaikwad; Additional reporting by Aaron

Saldanha; Editing by Vyas Mohan)