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SE Asia Stocks-Most markets close lower; US-China trade talks in focus

* Philippines falls, industrials and financials top drag

* Indonesia stocks reverse early gains to close lower

* Thai shares close slightly higher on telecom stocks

By Susan Mathew

May 18 (Reuters) - Most Southeast Asian stock markets edged

down on Friday amid caution over developments in U.S.-China

trade negotiations, while Vietnam shares rose 1 percent

after two straight sessions of sharp falls.

China denied that it had offered a package to slash the U.S.

trade deficit by up to $200 billion, hours after it dropped an

anti-dumping probe into U.S. sorghum imports in a conciliatory

gesture as top officials meet in Washington.

Philippine shares closed 0.3 percent lower as

industrials and financials tumbled. SM Investments

dropped 2.6 percent, while Ayala Corp declined 1.2

percent.

Foreign investors net sold 715.3 million shares on Friday.

The Philippine key stock index shed a little more than 1

percent this week following a 2.7 percent gain last week.

Indonesian shares rose in early trade before erasing

the gains to close lower.

The central bank raised the benchmark interest rate on

Thursday to support the rupiah, but the currency fell to

a more than 2-1/2-year low on Friday.

Bank Indonesia's (BI) governor stressed that the central

bank is ready to act again to "ensure stability". BI's next

policy meeting is on June 27-28, about two weeks after a U.S.

Federal Reserve meeting.

Automotive company Astra International was the top

drag, followed by Bank Negara. They declined nearly 3

percent each.

Indonesian shares declined 3 percent this week, erasing last

week's 2.8 percent gain.

In Vietnam, consumer stocks were the top gainers. Vietnam

Dairy Products rose 3.7 percent and Saigon Beer Alcohol

Beverage Corp gained 4.5 percent.

Thai stocks rose 0.2 percent with telecoms driving

the gains.

True Corp, Thailand's second largest mobile

operator, climbed 5.9 percent after the company said it will not

bid in an 1800-megahertz spectrum auction in August.

Sector bellwether Advanced Info Service gained

1.9 percent, while Total Access Communications, the

country's third-ranked mobile operator, rose 6.8 percent.

For the week, Thai stocks declined 0.7 percent, in their

second straight weekly drop.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS

Market Current Previous close Pct Move

Singapore 3529.27 3536.76 -0.21

Bangkok 1754.17 1751.2 0.17

Manila 7672.28 7694.12 -0.28

Jakarta 5783.31 5815.92 -0.56

Kuala Lumpur 1854.5 1854.44 0.00

Ho Chi Minh 1040.54 1030.64 0.96

Change on year

Market Current End 2017 Pct Move

Singapore 3529.27 3402.92 3.71

Bangkok 1754.17 1753.71 0.03

Manila 7672.28 8558.42 -10.35

Jakarta 5783.31 6355.654 -9.01

Kuala Lumpur 1854.5 1796.81 3.21

Ho Chi Minh 1040.54 984.24 5.72

(Reporting by Susan Mathew in Bengaluru; Editing by Subhranshu

Sahu)