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SE Asia Stocks-Set for steep quarterly losses; Malaysia rallies from 1-1/2-yr low

* Malaysia posts biggest pct gain in over 2-1/2 years

* Malaysian power utility Tenaga Nasional surges on tariff

move

* Indonesian stocks gain ahead of cbank rate decision

By Ambar Warrick

June 29 (Reuters) - Malaysian shares bounced back on Friday

from their lowest close in one-and-a-half years, on strong gains

in power utility Tenaga Nasional, the index's third largest

stock, while most other Southeast Asian stock markets firmed in

the final trading session of the quarter.

Asian share markets rallied from nine-month lows, after

China eased foreign investment limits, but underlying sentiment

was dampened by worries over trade frictions a week before

initial U.S. and Chinese tariffs were set to take effect.

"Asian bourses may see a small reprieve into the monthend

amid more positive overnight cues from Wall Street. Key to watch

today is the Bank of Indonesia rate decision," OCBC said in a

note.

Wall Street rose overnight, lending some support to

sentiment in Asia. MSCI's broadest index of Asia-Pacific shares

outside Japan rose about 1 percent.

However, Southeast Asian stock markets were set to log

substantial quarterly losses, as trade tensions between the two

largest economies in the world took their toll. A volley of

tariffs between the United States and China had prompted a mass

exodus from the region's risky assets.

Malaysian stocks jumped as much as 2.2 percent,

their biggest intraday percentage gain since September 2015. The

market fell to a 1-1/2-year closing low on Thursday.

Tenaga Nasional Bhd surged 8.4 percent and was the

biggest boost to the Malaysian benchmark. The company revised

its tariffs on Friday and said that it would charge non-domestic

customers an additional surcharge for the July-December period.

(https://bit.ly/2N5X6Yd)

The index was on track to post a 9 percent loss for the

second quarter.

Indonesian shares rose about 0.9 percent, with

financials and consumer staples taking the lead. Bank Mandiri

rose 2.3 percent, while Unilever Indonesia

gained 0.9 percent.

Bank Indonesia, which increased its key interest rate twice

during May, is likely to raise it again when it meets on Friday,

a Reuters poll showed. The bank has been struggling to stabilise

a plunging rupiah.

Indonesian stocks were on track to post a more than 7

percent decline for the quarter.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS

Change as at 0340 GMT

Market Current Previous close Pct Move

Singapore 3276.03 3257.57 0.57

Bangkok 1592.32 1599.54 -0.45

Manila 7140.22 7066.57 1.04

Jakarta 5716.183 5667.319 0.86

Kuala Lumpur 1700 1665.68 2.06

Ho Chi Minh 954.12 957.35 -0.34

Change on year

Market Current End 2017 Pct Move

Singapore 3276.03 3402.92 -3.73

Bangkok 1592.32 1753.71 -9.20

Manila 7140.22 8558.42 -16.57

Jakarta 5716.183 6355.654 -10.06

Kuala Lumpur 1700 1796.81 -5.39

Ho Chi Minh 954.12 984.24 -3.06

(Reporting by Ambar Warrick in Bengaluru; Editing by Amrutha

Gayathri)