U.S. Markets closed

SE Asia Stocks-Most markets rise as investors move on from trade war fears

* Thailand extends gains to near 4-month closing high

* Singapore rises 1.2 pct to two-week closing high

* Philippine falls about 1 pct on foreign selling

By Sumeet Gaikwad

Sept 19 (Reuters) - Most Southeast Asian stock markets rose

on Wednesday, tracking gains in broader Asia, as investors

shrugged off the latest round of tariff war between Washington

and Beijing.

China will levy tariffs on about $60 billion worth of U.S.

goods in retaliation for new U.S tariffs, as previously planned,

but has reduced the volume of tariffs that it will collect on

the products.

The new tariff measures will take effect on Sept. 24, the

date when the United States says it will begin to levy new

tariffs of 10 percent on $200 billion of Chinese products.

"Financial markets may be turning slightly blase towards the

U.S.-China tit-for-tat trade war, with China's retaliation of

tariffs on $60 billion of U.S. imports .... providing some

respite to the sell-off for selected Asian bourses," OCBC said

in a note.

Thai shares closed higher for a second straight

session and posted their highest close since May 23, helped by

gains across the board.

Index heavyweights PTT Pcl and CP All Pcl

rose 1 percent and 3.7 percent, respectively.

Earlier in the day, the central bank left its key policy

rate unchanged at 1.50 percent, as widely expected, and

maintained its forecasts for export and economic growth this

year.

Consumer stocks helped Indonesian shares climb 1.1

percent with Astra International rising nearly 5.3

percent and Unilever Indonesia adding 1.5 percent.

An index of the country's 45 most liquid stocks

rose 1.2 percent.

Singapore stocks gained 1.2 percent after two

straight sessions of declines and posted a two-week closing

high.

DBS Group Holdings, the city-state's top lender,

rose 1.2 percent, while Oversea-Chinese Banking Corp

added 0.7 percent.

Meanwhile, Philippine shares fell nearly 1 percent to

a more than two-month closing low, dragged by financials.

Bank of the Philippine Islands and Ayala Corp

declined 3.2 percent and 2.1 percent, respectively.

The archipelago is facing high inflation and rising costs,

with the situation worsening due to a weak peso. This has

sparked concerns of a widening current account deficit with the

central bank signalling a fourth hike in its benchmark interest

rates this year, a central bank official said on Tuesday.

Foreign investors net sold $11.8 million worth shares on

Wednesday, according to Thomson Reuters Eikon Data.

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SOUTHEAST ASIAN STOCK MARKETS

Market Current Previous close Pct Move

Singapore 3176.57 3139.34 1.19

Bangkok 1749.8 1744.42 0.31

Manila 7221.23 7286.34 -0.89

Jakarta 5873.597 5811.79 1.06

Kuala Lumpur 1800.71 1792.94 0.43

Ho Chi Minh 995.54 993.49 0.21

Change on year

Market Current End 2017 Pct Move

Singapore 3176.57 3402.92 -6.65

Bangkok 1749.8 1753.71 -0.22

Manila 7221.23 8558.42 -15.62

Jakarta 5873.597 6355.654 -7.58

Kuala Lumpur 1800.71 1796.81 0.22

Ho Chi Minh 995.54 984.24 1.15

(Reporting by Sumeet Gaikwad in Bengaluru; Editing by

Subhranshu Sahu)