SE Asia Stocks-Indonesia up on rate cut hopes, Singapore firm

* Indonesia rises amid rate cut expectations

* Singapore, Malaysia recoup early losses

* Philippine index hits 1-week low; Vietnam at 1-month low

By Viparat Jantraprap

BANGKOK, July 1 (Reuters) - Southeast Asian stock markets
ended mixed on Wednesday, with Indonesia climbing amid rate cut
expectations while Singapore and Malaysia recouped early
losses, pulled up by banks and developers.

U.S. crude oil futures CLc1, which rose $1 to $70.89 a
barrel on Wednesday, pushed up resource shares in the region.

Asian stocks elsewhere were mixed at the start of the third
quarter. By 0919 GMT, the MSCI index of Asia-Pacific stocks
outside Japan .MIAPJ0000PUS was up 0.04 percent.

Jakarta .JKSE rose 1.6 percent, snapping a three-day
fall, ahead of Bank Indonesia's meeting on Friday to review
rates, with moderating inflation expected to give it room to
cut its key interest rate by 25 basis points, a Reuters poll
showed.

Telecommunications firm Telekomunikasi Indonesia (TLKM.JK)
surged 5.3 percent, Unilever Indonesia (UNVR.JK) climbed 4.9
percent, Bank Central Asia (BBCA.JK) was up 2.1 percent and
Bank Mandiri (BMRI.JK) was 2.4 percent higher.

Singapore's index .FTSTI ended up 0.8 percent, after
sliding earlier, with developer CapitaLand (CATL.SI) up 1.1
percent, DBS Group Holdings (DBSM.SI) rising 1.5 percent and
Oversea-Chinese Banking Corp (OCBC.SI) 1.1 percent higher.

Shares in Singapore's Frasers Commercial Trust (FRCR.SI)
dropped 12.5 percent after it announced plans to raise S$213.9
million ($129 million) in a 3-for-1 rights issue and would
borrow S$675 million to refinance debt maturing this year.

Malaysia .KLSE closed 0.4 percent higher at 1079.40,
reversing a small loss in early trade.

The Kuala Lumpur Composite Index (KLCI) .KLSE had ended
flat on Tuesday after Malaysia's prime minister unveiled a raft
of measures aimed at boosting investment in the slumping
economy.

Chris Oh, an analyst at JP Morgan, said the positive steps
would take time to make an impact, especially as investors
would be wary about how long it would take to implement them.

"We believe the market is ripe for consolidation and would
look at lower KLCI entry levels of close to 950-1000 while
awaiting the positive feedback loop from the stimulus packages,
new policy measures, low interest rates, and stabilisation of
the global economy to feed through earnings momentum," he said.

Financials and energy-related firms led gainers, with
Bumiputra Commerce BUCM.KL up 0.6 percent, RHB Capital
(RHBC.KL) 1.9 percent higher, Genting (GENT.KL) rising 2.7
percent and Tanjong (TJPL.KL) climbing 3.8 percent.

The Philippine index .PSI fell for a third day, inching
down 0.2 percent to its lowest since June 24, with Bank of
Philippine Islands (BPI.PS) down 1.2 percent and electricity
producer Energy Development Corp (EDC.PS) down 1.3 percent.

Vietnam .VNI extended losses into a third day, sliding
4.1 percent to its lowest level since June 1, with insurer Bao
Viet Holdings BVH.HM down 4.7 percent.

Vietcombank VCB.HM, the largest partly private lender by
assets, rose 0.8 percent, after jumping by the maximum 20
percent allowed on its market debut on Tuesday.

A state-run newspaper reported on Wednesday that first-half
gross profit at Vietcombank reached 2.45 trillion dong, 75
percent of its annual target.

The Thai stock market .SETI was closed for a market
holiday and trading will resume on Thursday.
($1 = 34.04 Baht)
(Additional reporting by David Chance in Kuala Lumpur; Editing
by Alan Raybould)