SE Asia Stocks-Gain ahead of BoE meeting; Philippines rise most

By Aparajita Saxena

Aug 4 (Reuters) - Southeast Asian stocks closed up on

Thursday, in line with their Asian counterparts, tracking an

overnight rally in global oil prices, and on expectations of a

rate cut from the Bank of England that would provide further

growth stimulus.

The Bank of England is expected to cut its policy rate by at

least a quarter percentage point to a record low of 0.25

percent, to ward off a potential recession following the UK's

vote to leave the European Union.

"Global central banks are trying to address the possible

impact of global economic slowdown following the Brexit vote.

We're going to see a shift of funds from developed economies

back to emerging markets," said Lexter Azurin, an analyst with

Unicapital Securities in Manila.

"Investors are buying into the growth story of emerging

markets and that is why our markets are faring well."

Early Thursday gains in oil prices also boosted investor

risk appetite for Asian markets after energy shares led gains in

five of the six Southeast Asian indexes.

Wednesday was the first positive day for U.S. equities after

a series of loss sessions. U.S. shares gained on the rise in oil

prices, and Asian investors factored those in, a Manila-based

trader said.

Philippines shares outperformed other markets, and

ended higher 1.14 percent, after snapping two sessions of

losses. Oil refiner Petron Corp led the gains.

Vietnam shares pared most of their early gains and

ended nearly flat.

Saigon Fuel JSC closed up 6.34 percent.

Malaysia snapped two straight sessions of losses and

closed up 0.41 percent, with a rally in index heavyweights RHB

Bank Bhd and Hong Leong Financial Group Bhd.

Thai index remained subdued ahead of Sunday's

referendum vote for a new constitution.

Gains were led by oil and gas companies PTT PCL and

Thai Oil PCL.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS

STOCK MARKETS

Change on day

Market Current Previous Close Pct Move

Singapore 2831.96 2827.58 0.15

Bangkok 1509.73 1507.47 0.15

Manila 7978.57 7888.44 1.14

Jakarta 5373.863 5351.878 0.41

Kuala Lumpur 1655.29 1648.5 0.41

Ho Chi Minh 631.94 631.61 0.05

Change on year

Market Current End 2015 Pct Move

Singapore 2831.96 2882.73 -1.76

Bangkok 1509.73 1288.02 17.21

Manila 7978.57 6952.08 14.77

Jakarta 5373.863 4593.008 17.00

Kuala Lumpur 1655.29 1692.51 -2.20

Ho Chi Minh 631.94 579.03 9.14

(Reporting by Aparajita Saxena in Bengaluru; Editing by

Gopakumar Warrier)