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SE Asia Stocks-Rise on report of China's plan to slash import tariffs

* Markets shake off wider trade war concerns

* Philippine shares snap three-day losing streak

* Thai shares up for a fourth day

By Sumeet Gaikwad

Sept 21 (Reuters) - Philippine shares jumped on Friday after

a report that China would cut import tariffs for most of its

trading partners, sidelining wider trade war worries, while

Singapore shares hit their highest in over two weeks.

China plans to reduce the average tariff rate on imports

from most of its trading partners as early as October, Bloomberg

News reported on Thursday. In July, China had cut import tariffs

on almost 1,500 consumer products as part of efforts to open up

its economy.

Markets were unfazed by the most recent round U.S.-China

tariffs, which were set at lower rates than previously expected,

raising hopes that hostilities between the world's two largest

economies may be easing.

The Philippine index snapped a three-session losing

streak to gain 2.1 percent, but is poised for a third straight

week of declines.

Financial and industrial stocks led the gains on the

benchmark with SM Investments Corp rising 1.9 percent,

while BDO Unibank was up 3.2 percent.

"China is considering tariff rate cuts on imports on a

majority of its trading partners. So, in effect, this would trim

the impact of a possible blowout of the U.S.-China trade war on

global trade. So, the positive outlook benefited emerging

markets," said Fio De Jesus, an analyst at Manila-based RCBC


Consumer and financial stocks helped the Singapore index

hit an over-two-week high, in line to post gains for a

second consecutive week.

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

and beer maker Thai Beverage were up over 2 percent


The Jakarta index rose for a third straight session

on the back of gains in financial stocks.

Bank Mandiri and Bank Negara Indonesia

rose 2.6 percent and 2 percent, respectively.

The index of the country's 45 most liquid stocks

was up 0.2 percent.

Thai shares extended gains into a fourth session

with sectors climbing across the board. The index is set to

record a second straight week of gains.

Index heavyweights PTT Pcl and SIAM Cement

were up 0.5 percent and 1 percent, respectively.

Thailand is scheduled to release customs-based trade data

for August in the coming week. The country's customs-cleared

annual exports may have risen 5 percent in August, a Reuters

poll showed, slowing from an 8.27 percent increase in the

previous month.

Malaysian shares were up for a third straight

session, while Vietnam rose 0.4 percent.

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Market Current Previous close Pct Move

Singapore 3206.76 3180.43 0.83

Bangkok 1760.29 1752.11 0.47

Manila 7279.85 7134.73 2.03

Jakarta 5946.16 5931.266 0.25

Kuala Lumpur 1811.15 1803.7 0.41

Ho Chi Minh 1008.42 1004.74 0.37

Change on year

Market Current End 2017 Pct Move

Singapore 3206.76 3402.92 -5.76

Bangkok 1760.29 1753.71 0.38

Manila 7279.85 8558.42 -14.94

Jakarta 5946.16 6355.654 -6.44

Kuala Lumpur 1811.15 1796.81 0.80

Ho Chi Minh 1008.42 984.24 2.46

(Reporting by Sumeet Gaikwad in Bengaluru; Editing by Sunil