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SE Asia Stocks-Philippines jumps as inflation cools, Singapore offers bargains

* Vietnamese, Thai stocks set for 4-week losing streak

* Philippine shares set for best weekly gain in almost 2

years

By Rashmi Ashok

Jan 4 (Reuters) - Philippine shares surged on Friday as the

country's inflation cooled in December, while bargain-hunters

snapped up cheapened Singaporean stocks.

While sentiment in broader Asia remained gloomy after

disappointing U.S. factory output data from and Apple Inc's

shock forecast cut, risk appetite across Southeast Asia

was mixed.

Slower increases in prices of food and transport drove

annual inflation in Philippines to a seven-month low in

December, helping Philippine stocks surge as much as 1.48

percent to a near-four month high.

The index has risen 4.3 percent this week and is on course

to clock its best weekly performance in almost two years.

Industrial conglomerate JG Summit led gains with a 4

percent advance.

Following a nearly 2 percent decline in the previous two

sessions, Singapore's benchmark index bounced back with a

0.87 percent jump on Friday. Palm oil producer Golden

Agri-Resources Ltd was among the top gainers.

"In the last six months, stocks have priced in all the

weaker data and valuations have turned cheap," said Joel Ng, an

analyst at KGI Securities in Singapore. "In terms of short term

trading there appear to be some opportunities."

Singapore's index has lost nearly 7 percent over the last

six months.

Meanwhile, Indonesian stocks reversed early losses

to edge higher as energy and consumer durables stocks lent

support.

Vietnamese shares fell 0.69 percent as declines in

real-estate and financial stocks weighed. Dream House Investment

Corp was the top decliner.

The Vietnamese index is headed for a weekly drop of about 3

percent, marking its fourth successive week in the red.

Thai stocks are also poised for a four-week losing

streak as financials weighed on the index on Friday.


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SOUTHEAST ASIAN STOCK MARKETS at 0338 GMT

Change on the day

Market Current Previous close Pct Move

Singapore 3037.89 3012.88 0.83

Bangkok 1554.47 1560.03 -0.36

Manila 7780.41 7680.6 1.30

Jakarta 6241.59 6221.01 0.33

Kuala Lumpur 1674.05 1675.83 -0.11

Ho Chi Minh 866.67 878.22 -1.32

Change so far in 2019

Market Current End 2018 Pct Move

Singapore 3037.89 3068.76 -1.01

Bangkok 1554.47 1563.88 -0.60

Manila 7780.41 7,466.02 4.21

Jakarta 6241.59 6,194.50 0.76

Kuala Lumpur 1674.05 1690.58 -0.98

Ho Chi Minh 866.67 892.54 -2.90

(Reporting by Rashmi Ashok in Bengaluru; Editing by Sai Sachin

Ravikumar)