SE Asia Stocks-Subdued as global growth concerns weigh; Indonesia gains

* Philippines, Malaysia close flat

* Indonesia gains after two straight session of losses

* Singapore rises; Q3 GDP growth misses expectations

By Aman Swami

Nov 22 (Reuters) - Indonesian stocks picked up on Thursday

after two sessions of falls, while other markets in the region

were largely subdued as investors remained cautious amid signs

of slowing global growth.

Tensions over Sino-U.S. trade ahead of a high-stakes meeting

this month between U.S. President Donald Trump and Chinese

President Xi Jinping kept investor sentiment fragile in Asia.

Indonesia's benchmark index rose 0.7 percent, driven

by gains in financial and consumer stocks.

"I think investors are considering Indonesia as an

relatively insulated market during this tech and export-driven

retreat," said Taye Shim, head of research and strategist at

Mirae Asset Sekuritas.

"Further, Indonesia surprised the market with its recent

rate hike – which we think is a country-specific relief factor,

which reinforced investor sentiment on the Indonesian market."

Indonesia's central bank last week unexpectedly raised its

benchmark interest rate for the sixth time this year, as

policymakers struggle to reduce imports and lower the country's

current-account deficit.

Bank Central Asia Tbk PT was up 1.2 percent, while

cement manufacturer Semen Indonesia (Persero) Tbk PT

rallied 6.5 percent.

Singapore shares edged marginally higher with

conglomerate Jardine Matheson Holdings Ltd gaining 2.1

percent and Hutchison Port Holdings Trust firming 2

percent.

The city-state's economy expanded at a much slower pace than

initially thought in the third quarter, with the government

flagging further moderation in the current quarter and warning

that the Sino-U.S. trade war will hurt growth in 2019.

Thai shares declined 0.8 percent, dragged by losses

in industrial and energy sectors.

Airports of Thailand PCL slipped 2.4 percent, while

PTT Exploration and Production PCL shed 1.9 percent.

Oil prices fell on Thursday after U.S. crude inventories

swelled to their highest level since December stoking concerns

about a global glut but OPEC talk of an output reduction limited

losses.

Philippine and Malaysian shares closed flat

for the day.

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SOUTHEAST ASIAN STOCK MARKETS

Change on day

Market Current Previous Close Pct Move

Singapore 3041.38 3038.65 0.09

Bangkok 1604.4 1617.33 -0.80

Manila 7268.38 7265.45 0.04

Jakarta 5990.81 5948.052 0.72

Kuala Lumpur 1695.62 1695.37 0.01

Ho Chi Minh 924.42 922.56 0.20

Change on year

Market Current End 2017 Pct Move

Singapore 3041.38 3402.92 -10.62

Bangkok 1604.4 1753.71 -8.51

Manila 7268.38 8558.42 -15.07

Jakarta 5990.81 6355.654 -5.74

Kuala Lumpur 1695.62 1796.81 -5.63

Ho Chi Minh 924.42 984.24 -6.08

(Reporting by Aman Swami; Editing by Sunil Nair)