SE Asia Stocks-Singapore extends fall into fourth session; Philippines up

By Nikhil Nainan

Dec 7 (Reuters) - Singapore shares fell for a fourth

straight session on Thursday, dragged down by industrials and

financials, while Philippine stocks rose for a second time in

three days.

Asian shares hovered above two-month lows as some high-tech

bellwethers bounced back after a searing sell-off although

softer oil and copper prices and uncertainty over U.S. policy

kept many investors cautious.

Investors are looking to final tax reform legislation in the

United States, where a potential U.S. government shutdown looms

if Congress fails to agree on a spending package.

Singapore's FTSE Straits Times Index, which had shed

1.5 percent this week as of Wednesday's close, closed 0.3

percent lower.

"Yesterday was quite bad… I guess it was part of the broader

selloff… So I think now it's just waiting for the next catalyst,

which is the Senate and House having to reconcile their tax

bill," said Joel Ng, an analyst at KGI Securities in Singapore.

Jardine Matheson Holdings dropped 2.2 percent and

Jardine Strategic Holdings declined 2.9 percent.

However, property stocks rose with City Developments

climbing 4.6 percent.

"They are probably rangebound at this level, so I think you

are starting to see investors coming in, in view of the positive

outlook over the next few years for property," Ng added.

Philippine shares closed more than half a percent

higher, helped by gains in telecom and energy stocks.

PLDT Inc rose 1.7 percent, while Semirara Mining

and Power Corp jumped 7 percent.

Indonesian shares closed 0.5 percent lower, snapping

three consecutive sessions of gains, with financials leading the

decline.

An index of the country's 45 most liquid stocks

dropped 0.6 percent.

Malaysian stocks closed little changed with a 6

percent rise in Sime Darby Plantation negating losses

in Telekom Malaysia and IJM Corp Bhd.

Vietnam dropped 1 percent, extending falls into a

third session, hurt by losses in Vietnam Dairy Products JSC

and Saigon Beer Alcohol Beverage Corp.

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SOUTHEAST ASIAN STOCK MARKETS: CHANGE ON THE DAY

Market Current Previous close Pct Move

Singapore 3388.14 3397.21 -0.27

Bangkok 1703.37 1694.39 0.53

Manila 8174.93 8129.62 0.56

Jakarta 6006.835 6035.508 -0.48

Kuala Lumpur 1719.05 1718.33 0.04

Ho Chi Minh 938.65 947.64 -0.95

Change so far this year

Market Current End 2016 Pct Move

Singapore 3388.14 2880.76 17.61

Bangkok 1703.37 1542.94 10.40

Manila 8174.93 6840.64 19.51

Jakarta 6006.835 5296.711 13.41

Kuala Lumpur 1719.05 1641.73 4.71

Ho Chi Minh 938.65 664.87 41.18

(Reporting by Nikhil Kurian Nainan; Editing by Subhranshu Sahu)