SE Asia Stocks -Up; Indonesia heads for best gain in 2 yrs on stimulus hopes

BANGKOK, Aug 27 (Reuters) - Southeast Asian stock markets

rose on Thursday after U.S. and Chinese equities rebounded, with

stocks in Indonesia rallying ahead of a government stimulus

package and the Philippine index advancing after positive

economic data.

Jakarta's composite index jumped 3.28 percent,

heading for its biggest single-day rise since September 2013.

Foreign investors bought recently-battered large-caps such as

Bank Rakyat Indonesia and Bank Negara Indonesia

.

Indonesia on Thursday will unveil a policy package intended

to prop up the rupiah, which hit another fresh 17-year low, and

boost investment at a time when Southeast Asia's largest economy

faces its weakest growth in six years.

The Philippines' main index was up 2.2 percent, a

third day of gains this week. Data showed the Philippine economy

rebounded with a growth of 5.6 percent in the second quarter,

defying a regional slowdown.

Much of the regional share slide this week was due to

foreign outflows amid selloffs in Chinese stocks, stock exchange

data showed.

A sharp rebound on Wall Street and gains in battered Chinese

shares eased fears of a deep and protracted global market rout,

lifting Asian stocks on Thursday.

The Thai SET index was up 1.9 percent, after a drop

the day before. Consumer-related shares such as CP All

and Kasikornbank outperformed on hopes

about the government's economic measures.

"Further institutional buying should be a major driver for

SET Index, especially on the domestic plays which benefit from

the stimulus packages, focused on low income earners," said

broker KGI Securities in a report.

Singapore was up 2 percent, after a weak spell on

Wednesday. Malaysia and Vietnam were both on

track for a third straight gain, climbing 1 percent and 1.6

percent, respectively.

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SOUTHEAST ASIAN STOCK MARKETS

Change at 0549 GMT

Market Current Prev Close Pct Move

Singapore 2928.99 2873.00 +1.95

Kuala Lumpur 1596.70 1580.37 +1.03

Bangkok 1345.30 1320.08 +1.91

Jakarta 4376.52 4237.73 +3.28

Manila 7019.63 6867.92 +2.21

Ho Chi Minh 554.82 545.89 +1.64

(Reporting by Viparat Jantraprap; Editing by Sunil Nair)