SE Asia Stocks-Telecoms buying pushes up S'pore, Philippines

* Region looks to U.S. Fed speech as next trigger

* Palm oil shares jump on Chinese demand hopes

* Caution over Thai interest rate outlook

By Viparat Jantraprap

BANGKOK, Aug 23 (Reuters) - Most Southeast Asian stock
markets moved higher on Tuesday after a survey of Chinese
factory output soothed fears of a hard landing for the world's
second-biggest economy, reviving the mood in the region and
pushing commodity shares higher.

Buying kicked in late in the session, reversing early losses
in the region, although relatively light volume suggested
lingering worries about a global slowdown.

One possible spark for further buying could be U.S. Federal
Reserve Chairman Ben Bernanke's speech on Friday in Jackson
Hole. Some in the market hope Bernanke will hint at additional
stimulus measures that could buoy stocks.

"We are still waiting for the Fed, to see if there's going
to be a hint of how he's going to direct policy," said Kuala
Lumpur-based Scott Lim, CEO of MIDF, who manages about 1.4
billion ringgit ($471 million).

"I'm not in a hurry to act, but if the market continues to
erode and screaming buys present themselves, we will buy," Lim
said.

Stocks in Malaysia edged up 0.7 percent, recouping
most of a 0.8 percent drop on Monday amid losses in stocks
globally.

In a choppy session across the region, Singapore
climbed 1.2 percent, erasing a 1 percent loss in early trade,
while Indonesia gained around 1 percent, with small
outflows of $7.8 million, Thomson Reuters data showed.

Philippine shares jumped nearly 2 percent, with market
turnover rising to 1.13 times its 30-day average, making it the
region's most active, with tiny inflows of $2.2 million,
according to Thomson Reuters data.

Manila was boosted by a 3.9 percent rise in Philippine Long
Distance Telephone (PLDT) , the country's second most
valuable listed firm, due to its attractive dividend payout.

"The PLDT dividend was a primary catalyst of the market.
Nothing was significant apart from that. There's more foreign
buying today and they just capitalised on PLDT's dividend,"
said Oliver Plana, head of sales at Manila-based broker Asiasec
Equities Inc.

Thai stocks erased early gains to end almost 1
percent lower as profit-taking hit banks, sending leader Bangkok
Bank down almost 2 percent.

The Bank of Thailand reviews interest rates on Wednesday and
another rise is expected, although the global slowdown is
increasing the odds of a pause later in the year.

Economists polled by Reuters expected the central bank to
raise its benchmark rate 25 basis points to 3.50 percent.

World stocks, the euro and commodity prices advanced on
Tuesday after gauges of Chinese and German manufacturing
activity were not as weak as some had feared. The MSCI
All-Country World Index rose 1 percent by 0936
GMT.

HSBC's China Flash Purchasing Managers' Index (PMI),
designed to preview China's factory output before official data,
edged up to 49.8 in August from July's 49.3.

In Singapore, gains were led by telecommunication firms,
seen as offering relatively stable earnings and attractive
dividend yields, with Singapore Telecommunications
rising 3.1 percent.

Palm plantation stocks tracked Malaysian palm oil futures
which hit a one-week high on Tuesday. Malaysia's IOI Corporation
jumped 4.3 percent and Singapore-listed commodity firm
Noble Group surged nearly 5 percent.
($1 = 2.970 Malaysian Ringgit)

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SOUTHEAST ASIAN STOCK MARKETS
Change on day
Market Current Prev Close Pct Move
Singapore 2765.15 2731.81 +1.22
Kuala Lumpur 1482.37 1472.16 +0.69
Bangkok 1057.28 1067.84 -0.99
Jakarta 3880.46 3839.62 +1.06
Manila 4375.39 4291.11 +1.96
Hanoi 401.28 406.03 -1.17

Change on year
Market Current End prev yr Pct Move
Singapore 2765.15 3190.04 -13.32
Kuala Lumpur 1482.37 1518.91 -2.41
Bangkok 1057.28 1032.76 +2.37
Jakarta 3880.46 3703.51 +4.78
Manila 4375.39 4201.14 +4.15
Hanoi 401.28 484.66 -17.20

Stock Market Volume (shares)
Market Current Volume Average Volume 30 days
Singapore 436,574,400 428,555,150

Kuala Lumpur 180,442,300 157,218,623

Bangkok 4,896,697 5,219,405

Jakarta 4,108,343,000 5,658,564,000
Manila 732,572 650 588
Hanoi 29,972 27,403

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(Additional reporting by Fong Min Hun in Kuala Lumpur, Shihar
Aneez in Colombo; Editing by Alan Raybould)