SE Asia Stocks -Mostly up on Fed optimism; Philippines leads

July 30 (Reuters) - Most Southeast Asian stock markets

gained on Thursday, led by Philippine shares, after the U.S.

Federal Reserve said the domestic economy and job market

continue to strengthen, leaving the door open for an interest

rate increase as early as September.

After a two-day policy meeting that ended Wednesday, Fed

officials said they felt the economy had overcome a

first-quarter slowdown and was "expanding moderately", despite a

downturn in the energy sector and headwinds from overseas.

"...these comments were taken to mean a rate hike this year

is still not totally ruled out though the Fed would continue to

keep a hawk's eye on things," Singapore-based Net Research Asia

said in an investor note.

The Philippines stock index was up 0.7 percent at

0513 GMT, Indonesia's Jakarta Composite index rose 0.2

percent, extending the rebound from a 16-month low hit on

Tuesday, and Malaysia traded 0.3 percent firmer.

Bucking the trend, Singapore traded 0.5 percent

weaker, a day after it reversed a six-session falling trend.

Vietnam lost 0.3 percent, led by large caps, but

energy shares gained on rising oil prices. Thai markets were

closed for a holiday on Thursday.

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SOUTHEAST ASIAN STOCK MARKETS

Change at 0513 GMT

Market Current Prev Close Pct Move

Singapore 3266.93 3284.00 -0.52

Kuala Lumpur 1704.73 1698.99 +0.34

Jakarta 4731.39 4721.12 +0.22

Manila 7532.14 7482.83 +0.66

Ho Chi Minh 622.90 624.70 -0.29

(Reporting by Shihar Aneez in COLOMBO; Editing by Biju

Dwarakanath)