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SE Asia Stocks-Philippine index nears 9-month high, other markets subdued

(Corrects reduction in poverty incidence to 18 percent, from

16.6 percent, in third paragraph)

SINGAPORE, April 21 (Reuters) - Philippine shares rose to

their highest in nearly nine months on Monday, boosted by the

government's revised infrastructure spending plan, while

holiday-thinned trade dragged on a mostly flat Southeast Asian

market.

In its first day of trade since last Wednesday, the

benchmark Philippine Index edged up 1.4 percent, its

highest since July 2013. The market was buoyed by news of the

Aquino administration's revised Philippine Development Plan.

Among the more ambitious aspects of the plan are a reduction

in poverty incidence from 25.2 percent in 2012 to 18 percent in

2016. Infrastructure spending is also set to rise to 5 percent

of GDP compared to less than 3 percent in 2013.

Gains were led by property developer SM Prime Holdings

and telecommunications firm Philippines Long Distance

Telephone Co which rose 4 percent and 3.6 percent

respectively.

Other Southeast Asian markets edged up slightly on the back

of weak trading activity following the Easter holidays, with

Malaysia among the top gainers, rising 0.5 percent to hit its

highest in two-and-a-half weeks.

"There's been a hangover from the long weekend and the

markets are still lacking direction," said a Singapore-based

trader from UOB. "People are settling down after the M&A

euphoria from the previous weeks."

Singapore, Vietnam and Indonesia

were all slightly higher.

Markets in Hong Kong, Australia and New Zealand remain

closed for the Easter Holidays.

For Asian Companies click;

For South East Asia Hot Stock reports, click;

SOUTHEAST ASIAN STOCK MARKETS

Change on day

Market Current Prev Close Pct Move

TR SE Asia Index* 421.77 421.13 +0.15

Singapore 3256.68 3253.80 +0.09

Kuala Lumpur 1862.62 1852.69 +0.54

Bangkok 1412.82 1409.18 +0.26

Jakarta 4900.80 4897.05 +0.08

Manila 6761.28 6671.18 +1.35

Ho Chi Minh 565.97 565.33 +0.11

(Reporting by Andrew Toh; Editing by Sunil Nair)

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