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SE Asia Stocks-Most fall; Philippines worst hit ahead of corporate results

* Philippine index down 0.8 pct; Singapore near 1-week high

* Thai stocks on track for second straight session of loss

* Vietnam gains ahead of Trump-Kim meet

By Shriya Ramakrishnan

Feb 27 (Reuters) - Philippines fell the most across

Southeast Asian stock markets on Wednesday, as investors adopted

a wait-and-watch approach ahead of corporate earnings results,

while industrial and consumer sectors boosted Singapore's index.

The Philippine benchmark index fell 0.8 percent,

dragged down by industrial and consumer stocks.

Index heavyweights SM Prime Holdings and SM

Investments Corp, which are yet to report earnings

results, dipped 1.8 percent and 1.5 percent, respectively.

"Convincing break of the said (benchmark) resistance will be

due to an improvement in corporate earnings growth and that's

what investors are currently waiting for," said Rachelle C Cruz,

an analyst at Manila-based AP Securities.

Meanwhile, markets in the region also remained wary on the

possibility of a Sino-U.S. trade deal, amid conflicting comments

from U.S. President Donald Trump.

The Malaysian benchmark, which has been the worst

performing index since the turn of the year, slipped 0.3

percent, pulled down by financial and consumer stocks.

Sime Darby Plantation, the world's biggest oil

palm planter by holdings, dropped 1.9 percent while index

heavyweight Axiata Group Bhd fell 0.7 percent.

The Thai index edged lower, with industrial and

utility stocks leading declines.

Thailand's TMB Bank Pcl on Tuesday announced a

non-binding agreement to merge with Thanachart Bank in a deal

worth up to 140 billion baht ($4.46 billion), which would make

the new entity the sixth largest bank in the country.

Bucking the regional trend, Singapore stocks climbed

0.6 percent, with industrial conglomerate Jardine Matheson

Holdings advancing 2 percent, while Jardine Strategic

Holdings added 1 percent.

The Vietnam index rose 0.4 percent, supported by

financial and consumer stocks.

Trump met Vietnam President Nguyen Phu Trong in Hanoi on

Wednesday, hours before the U.S. president was due to meet North

Korean leader Kim Jong Un for their second summit.

Also, Vietnam received $2.58 billion in foreign direct

investment (FDI) in January-February, up 9.8 percent from the

same period a year earlier.

($1 = 31.4000 baht)

STOCK MARKETS AS AT 0349 GMT

Change on the day

Market Current Previous close Pct Move

Singapore 3282.04 3261.66 0.62

Bangkok 1660.2 1663.56 -0.20

Manila 7924.31 7988.16 -0.80

Jakarta 6524.488 6540.95 -0.25

Kuala Lumpur 1713.85 1719 -0.30

Ho Chi Minh 990.87 987.06 0.39

Change so far in 2019

Market Current End 2018 Pct Move

Singapore 3282.04 3068.76 6.95

Bangkok 1660.2 1563.88 6.16

Manila 7924.31 7,466.02 6.14

Jakarta 6524.488 6,194.50 5.33

Kuala Lumpur 1713.85 1690.58 1.38

Ho Chi Minh 990.87 892.54 11.02

(Reporting by Shriya Ramakrishnan in Bengaluru; Editing by

Rashmi Aich)