* Malaysian stocks hit highest since Nov. 22
* Indonesian equities gain for fourth session
* Philippine index reverses losses
By Shruti Sonal
Dec 18 (Reuters) - Most Southeast Asian markets ended higher
on Wednesday, with Malaysia and Thailand leading gains, as a run
of upbeat data from the United States eased recession and global
slowdown fears.
U.S. homebuilding increased more than expected in November
and permits for future home construction surged to a 12-1/2-year
high, while a strong rebound was seen in manufacturing
production in the previous month.
Thai stocks .SETI jumped over 1%, underpinned by gains in
telecom and energy stocks.
Communication stocks were supported by news of an industry
watchdog drafting regulations for licensing of 5G technology by
March next year, said Phillip Capital Thailand analyst Teerada
Charnyingyong.
Advanced Info Service PCL ADVANC.BK rose over 3.8% to hit
its highest since Nov. 29, while energy conglomerate PTT PCL
PTT.BK gained 2.3%.
The country's central bank left its benchmark interest rate
unchanged at a record low on Wednesday. Industrials helped the Philippine index .PSI reverse
losses, although gains were capped due to a drag in financials.
DMCI Holdings DMC.PS and Manila Electric Co MER.PS ended
9.6% and 0.7% higher, respectively.
Financials were pressured by reports about the central bank
probing about ten banks for ties with Australia's scandal-hit
Westpac Banking Corp WBC.AX , according to Richard Laneda,
Senior Research Manager at COL Financial Group. Bank of the Philippine Islands BPI.PS , which is the local
remittance partner of Westpac, slumped over 3.9% to its lowest
since July 12.
Malaysian equities .KLSE jumped 1.4% to hit their highest
since Nov. 22, lifted by healthcare units and industrials.
Top Glove Corporation Bhd TPGC.KL , which posted an
increase in its quarterly net profit on Tuesday, extended gains
to touch its highest since July 12. Indonesian stocks .JKSE were buoyed by financials and real
estate stocks.
Foreign interest in Indonesian markets is driven by rotation
from bonds to equities due to the end of the rate-cut cycle and
"from the developed markets into emerging markets," said Mirae
Asset analyst Taye Shim.
The country's central bank is scheduled to meet on Thursday,
where it will likely keep rates unchanged, a Reuters poll
showed. Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous close Pct Move
Singapore 3209.54 3200.8 0.27
Bangkok 1563.74 1548.65 0.97
Manila 7733.67 7730.45 0.04
Jakarta 6287.25 6244.352 0.69
Kuala Lumpur 1599.11 1576.95 1.41
Ho Chi Minh 951.13 954.03 -0.30
Change so far in 2019
Market Current End 2018 Pct Move
Singapore 3209.54 3068.76 4.59
Bangkok 1563.74 1563.88 -0.01
Manila 7733.67 7,466.02 3.58
Jakarta 6287.25 6,194.50 1.50
Kuala Lumpur 1599.11 1690.58 -5.41
Ho Chi Minh 951.13 892.54 6.56