*

Singapore stocks up on budget, UOB results and shareholder

returns

*

Rupiah down 0.4% after BI keeps rate unchanged

*

South Korean stocks up for 7 straight sessions

(Updates as at 0807 GMT)

By Rajasik Mukherjee and Roushni Nair

Feb 19 (Reuters) - Indonesian rupiah pared losses on

Wednesday after the country's central bank kept its interest

rate unchanged in a widely expected move, while Singapore stocks

hit a record high after a promising budget for 2025 boosted

sentiment.

Bank Indonesia (BI), which had surprised the market with

a rate cut last month, held interest rates steady at 5.75% on

Wednesday to arrest the rupiah's decline. The currency is down

about 1.5% so far this year.

The central bank flagged caution around further easing

as it intends to keep a close eye on the rupiah's movement,

inflation and economic growth.

"A sharp deceleration in January inflation on policy

measures and a likely negative fiscal impulse to growth in the

first half due to spending cuts, keeps the door open for further

cuts in the first half of the year," said Radhika Rao, senior

economist with DBS Bank.

Rao expects the BI to cut interest rates by 50 basis

points more this year.

The rupiah pared some losses to fall 0.4% as of 0807

GMT. It had earlier lost as much as 0.6%.

Stocks in Jakarta were flat after the BI's

decision, having declined 0.7% earlier.

Elsewhere in the region, 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 a $2 billion

special dividend and share buyback package.

Meanwhile, Singapore's budget for 2025 - unveiled on Tuesday

- included vouchers, tax rebates and cash handouts to help

consumers.

JP Morgan analysts 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% logging their

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

stocks. Gains were powered by a 3.4% jump in Samsung Electronics ( SSNLF )

and a 4.3% rise in SK Hynix ( HXSCF ).

Stocks in Manila advanced 0.4% to hit their highest

level in more than a week while those in Thailand and

Malaysia were flat.

The rest of the Asian currencies were largely range-bound

against a firm U.S. dollar as tariff concerns and tense

Russia-Ukraine negotiations dampened risk appetite.

The dollar index, which measures the greenback

against a basket of rivals, held steady on Wednesday.

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 0807 GMT

Japan +0.24 +3.62

-0.45 -0.54

China India +0.00 -1.54 -0.01 -2.97

Indones -0.37 -1.47 -0.85 -3.74

ia

Malaysi +0.07 +0.63 -0.23 -3.72

a

Philipp +0.09 -0.05 0.41 -6.26

ines

S.Korea Singapo +0.02 +1.79 0.05 3.69

re

Taiwan +0.04 +0.09 -0.26 2.47

Thailan -0.15 +1.81 0.19 -10.0

d 3