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SE Asia Stocks-Most markets fall; Philippines recovers some lost ground

* Philippine c.bank hikes rates by most in a decade

* Thai shares extend gains into third session

* Indonesia declines most in Southeast Asia

By Karthika Suresh Namboothiri

Aug 9 (Reuters) - Philippine shares trimmed early sharp

falls to close about half a percent lower on Thursday, while

Thai stocks advanced for a third straight session.

The key Philippine stock index fell as much as 1.3

percent after data showed economic growth unexpectedly weakened

to a near three-year low in the second quarter.

After market hours, the central bank raised key interest

rates by 50 basis points, the biggest hike in 10 years, and left

the door open for further policy tightening to fight high

inflation despite economic growth losing steam.

GDP slowdown increases the challenge for a government that

is funding a multi-billion infrastructure overhaul and a central

bank grappling with rising inflation.

An increase in rates will likely further slowdown growth in

the economy, said Paolo Ayson, an analyst at Manila-based RCBC

Securities.

SM Prime Holdings fell 1.3 percent, while Jollibee

Foods Corp declined 2.8 percent.

Indonesian shares declined 0.5 percent with consumer

and telecom stocks leading the fall. Telekom Indonesia

closed 1.7 percent lower, while Bank Negara Indonesia

fell nearly 2 percent.

Vietnam shares slipped with real estate company

Vingroup declining to a two-week low and Vietcombank

down 1.3 percent.

Thai shares closed marginally higher. Banks led

gains with Siam Commercial Bank and Bank of Ayudhya

closing 3.2 percent and 1.8 percent higher

respectively.

The Singapore stock market was closed for a holiday.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS

Change on the day

Market Current Previous close Pct Move

Bangkok 1722.48 1721.64 0.05

Manila 7820.71 7851.46 -0.39

Jakarta 6065.256 6094.829 -0.49

Kuala Lumpur 1804.95 1804.73 0.01

Ho Chi Minh 963.5 966.27 -0.29

Change on year

Market Current End 2017 Pct Move

Bangkok 1722.48 1753.71 -1.78

Manila 7820.71 8558.42 -8.62

Jakarta 6065.256 6355.654 -4.57

Kuala Lumpur 1804.95 1796.81 0.45

Ho Chi Minh 963.5 984.24 -2.11

(Reporting by Karthika Suresh Namboothiri; Editing by

Subhranshu Sahu)

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