SE Asia Stocks-Tepid as Yellen speech awaited; Philippines falls nearly 1 pct

By Krishna V Kurup

Aug 24 (Reuters) - Philippine stocks fell nearly 1 percent

to a 3-week low on Wednesday, led by JG Summit Holdings Inc

and Universal Robina Corp, while most other

Southeast Asian markets were tepid in line with broader Asian

shares.

Global sentiment was hit by falling oil prices on an

unexpected buildup in U.S. crude stocks and fears over China

demand, while investors focused on a speech by Fed Chair Janet

Yellen whether she would adopt a more hawkish tone in her speech

on Friday.

Meanwhile, upbeat U.S. housing data added to market

uncertainty over whether the Fed will raise interest rates this

year. [

The Philippine stock index was headed for its second

session of losses, with JG Summit shedding as much as 5.1

percent and Universal Robina falling up to 3.1 percent.

The market is going to trade sideways for the rest of the

week on expectation Yellen's speech could give clues about

whether there would be an interest rate hike in September, said

Grace Aller, an analyst with AP Securities in Manila.

Singapore stocks gained as much as 0.7 percent and

posted their biggest single-day percentage gain in two weeks.

Financial stocks led the gains, with DBS Group Holdings Ltd

rising 1.7 percent and United Overseas Bank Ltd

adding 1.4 percent.

Indonesian shares were slightly down with healthcare

stocks being the biggest drag. Kalbe Farma Tbk PT and

Mitra Keluarga Karyasehat Tbk PT fell 3.6 percent and

3.3 percent, respectively.

"We expect JCI (Jakarta Composite Index) to technical

rebound within the range of 5,400-5,470," Trimegah Securities

said in a note.

MSCI's broadest index of Asia-Pacific shares outside Japan

was down 0.4 percent as of 0450 GMT.

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SOUTHEAST ASIAN STOCK MARKETS

STOCK MARKETS

Change at 0450 GMT

Market Current Prev close Pct Move

Singapore 2866.72 2850.43 0.57

Bangkok 1545.06 1540.06 0.32

Manila 7862.98 7935.18 -0.91

Jakarta 5406.923 5417.14 -0.19

Kuala Lumpur 1683.71 1683.07 0.04

Ho Chi Minh 660.94 659.16 0.27

Change on year

Market Current End 2015 Pct Move

Singapore 2866.72 2882.73 -0.56

Bangkok 1545.06 1288.02 19.96

Manila 7862.98 6952.08 13.10

Jakarta 5406.923 4593.008 17.72

Kuala Lumpur 1683.71 1692.51 -0.52

Ho Chi Minh 660.94 579.03 14.15

(Reporting by Krishna V Kurup in Bengaluru; Editing by

Subhranshu Sahu)