Southeast Asia stocks - Indonesia ends lower on GDP concerns; Philippines, Singapore gain

(Reuters) - Indonesian shares erased early gains to close lower on Monday as investors adopted a cautious stance ahead of the growth data next week, while Singapore and Philippine markets rebounded as cheaper valuations stoked bargain buying.

Indonesia's central bank kept its benchmark interest rate unchanged, taking a pause after 150 basis points of rate hikes since May, and warned that third-quarter economic growth may not be as strong as initially expected.

The losses in Indonesia, the region's largest economy, were largely led by shares in telecom company XL Axiata Tbk PT and lender Bank Tabungan Pensiunan Nasional Tbk.

"Banks are very cyclical, so it goes in tandem with the economy. With the outlook that the Indonesia's macro-economic cycle is turning weak, that could actually cause the investors to be a little bit more discouraged with the banking sector. It has mostly to do with the outlook of the third-quarter GDP growth," said Taye Shim, head of research, Mirae Asset Sekuritas.

In the Philippine <.PSI> market, industrials and banking sectors accounted for most gains. Shares of BDO Unibank Inc and Bank of the Philippine Islands closed 2 percent and 1.2 percent firmer, respectively.

Singapore shares <.STI> ended in the green, with conglomerate Jardine Matheson Holdings Ltd adding 1.5 percent to the bourse.

"The broader picture is that the selling looks overdone," Liu Jinshu, director of research, NRA Capital said.

"I also heard of bargain hunters on the prowl since last week. Basically, some counters have reached levels that buyers are finding attractive," Liu added.

Thai shares <.SETI> recovered from previous session's losses to end firmer ahead of September factory output data on Tuesday.

Petroleum and gas explorer PTT Pcl and airport operator Airports of Thailand Pcl were among the biggest gainers on the index, closing 1 percent and 2.1 percent higher.

The country's annual headline inflation rate may have eased slightly in October, but remained within the central bank's target range for a seventh straight month, while September factory output likely declined, a Reuters poll showed.

Vietnam shares <.VNI> slipped to close 1.3 percent weaker, with refiner Petrovietnam Gas Joint Stock Corp ending 4.7 percent lower and Saigon Thuong Tin Commercial Joint Stock Bank posting its third straight sessions of declines.

(Reporting by Shanima A; Editing by Sherry Jacob-Phillips)

By Shanima A