*

Singapore stocks up on budget, UOB results and shareholder

returns

*

Indonesian stocks snap a three-day rally, rupiah down 0.6%

*

Bank Indonesia rate decision awaited

*

South Korean stocks up for 7-days straight

By Rajasik Mukherjee and Roushni Nair

Feb 19 (Reuters) - Most Asian equities gained on

Wednesday, with Singapore stocks hitting a record high on upbeat

earnings and shareholder returns from United Overseas Bank

as well as favourable reviews for the city-state's

budget for this year.

In currencies, the rupiah tumbled ahead of an expected pause

in Bank Indonesia's easing cycle later in the day.

Singapore's benchmark stock index rose 0.6% to a

record peak of 3,949.65 points and has gained 4% this year. UOB,

Singapore's third-biggest bank, logged a 9% rise in quarterly

profit and announced $2 billion special dividend and share

buyback package.

Singapore's budget for 2025 - newly unveiled on Tuesday -

included vouchers, tax rebates and cash handouts to help

consumers.

JP Morgan analysts also lifted their rating for Singapore

stocks to "overweight", citing inexpensive valuations, low

volatility compared to regional peers, and government efforts to

boost the local stock market.

Shares in South Korea climbed 2.1%, on track for

their seventh consecutive session of gains, aided by a rally in

chip stocks. Gains were powered by a 3.4% jump for Samsung

Electronics ( SSNLF ) and a 4.3% surge for SK Hynix ( HXSCF )

.

Stocks in Manila advanced 0.8% to hit their highest

level in more than a week while those in Thailand and

Malaysia traded flat.

Asian currencies were largely range-bound against a firm

U.S. dollar as tariff concerns and tense Russia-Ukraine

negotiations kept investors vary of riskier assets.

But the Indonesian rupiah fell as much as 0.6% to

clock its worst session since February 3 as investors exercised

caution ahead of policy meeting later in the day at which the

country's central bank is widely expected to stand pat on rates.

The rupiah, the worst performing regional currency of 2024,

has fallen over 1.5% this year.

Stocks in Jakarta declined 0.5%, snapping a

three-day rally.

The dollar index, which measures the greenback

against a basket of rivals, swung between positive and negative

territory. It was last down 0.07%.

HIGHLIGHTS:

** Trump says he will introduce 25% tariffs on autos,

pharmaceuticals and chips

** BOJ must keep raising rates gradually, says board member

Takata

Asian stocks

and

currencies

as of 0520

GMT

COUNTRY FX RIC FX FX YTD % INDEX STOCKS STOCKS

DAILY DAILY YTD %

% %

Japan +0.05 +3.42 China >

India +0.00 -1.54 Indonesia -0.49 -1.59 Malaysia +0.05 +0.61 Philippines +0.07 -0.08 0.66 -6.03

S.Korea >

Singapore -0.04 +1.73 0.21 3.86

Taiwan +0.01 +0.06 Thailand -0.15 +1.81