SE Asia Stocks-Rise on Wall Street gains, talk of China fiscal reforms

* Philippine shares jump to 6-week high

* Thai stocks up for 5th session in six

By Syed Saif Hussain Naqvi

July 25 (Reuters) - Most Southeast Asian stock markets rose

on Wednesday, tracking broader Asia on strong Wall Street

earnings and anticipation that China will support growth in its

economy through new fiscal policy measures.

Overnight on Wall Street, the S&P 500 closed at its

highest level since Feb. 1 following a surge in Alphabet Inc

shares.

"If there are any technical rallies based on U.S. flows and

strong second quarter, I think there is a good chance for

investors to sell into their strengths into that rally in a more

defensive portfolio," KGI Securities analyst Joel Ng said.

Markets in Southeast Asia cheered China's potential fiscal

move, with Asia shares ex-Japan rising for a

second straight session.

China will adopt fiscal policy measures, including cutting

taxes for companies and speeding up local governments' special

bond issuance, to help tackle external uncertainties without

resorting to strong policy stimulus, state radio said on Monday.

On the trade front, focus was on talks between U.S.

President Donald Trump and European Commission President

Jean-Claude Juncker set later on Wednesday.

Philippine shares continued their upward momentum

from Tuesday, rising as much as 1.8 percent to a six-week high,

with all sectors in positive territory.

Financials accounted for more than half of the gains, with

BDO Unibank rising 2.3 percent and SM Investments Corp

adding 1.7 percent.

Singapore shares gained on the back of financials.

Oversea-Chinese Banking Corp, United Overseas Bank

and DBS Group Holdings climbed between 0.8

percent and 2.7 percent.

Malaysian shares rose for a third straight session,

as gains in utilities and financials offset losses in consumer

staples and consumer discretionary stocks.

Electricity provider Tenaga Nasional rose 0.8

percent and Maybank BHD gained 0.4 percent. They were

the biggest boost to the index.

Thai shares were headed for a fifth session of gains

in six, helped by energy stocks.

PTT Pcl and PTT Exploration And Production Pcl

gained 0.5 percent and 0.76 percent respectively, on

higher oil prices.

Oil prices rose on data showing U.S. crude stockpiles fell

more than expected last week, easing worries about oversupply.

Indonesian shares edged higher as gains in energy

and material sectors offset losses in telecommunication and

consumer staple stocks.

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SOUTHEAST ASIAN STOCK MARKETS

Change on the

day

Market Current Previous Pct Move

close

Singapore 3319.92 3292.65 0.83

Bangkok 1688.96 1674.22 0.88

Manila 7576.95 7447.02 1.74

Jakarta 5937.76 5931.842 0.10

Kuala Lumpur 1764.71 1762.93 0.10

Ho Chi Minh 931.91 934.08 -0.23

Change on year

Market Current End-2017 Pct Move

Singapore 3319.92 3402.92 -2.44

Bangkok 1688.96 1753.71 -3.69

Manila 7576.95 8558.42 -11.47

Jakarta 5937.76 6355.654 -6.58

Kuala Lumpur 1764.71 1796.81 -1.79

Ho Chi Minh 931.91 984.24 -5.32

(Reporting by Syed Saif Hussain Naqvi in Bengaluru; Editing by

Subhranshu Sahu)