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SE Asia Stocks-Philippines falls as MSCI's China weighting boost raises outflow woes

* Philippine stocks hit near 2-month low

* Vietnam index poised for 1.5 pct weekly loss

* Singapore shares snap 3 straight sessions of losses

By Shriya Ramakrishnan

March 1 (Reuters) - Philippine shares fell the most across

Southeast Asian markets on Friday, after MSCI's announcement of

an increase in the weighting of Chinese mainland shares in

global benchmarks raised outflow worries in smaller markets.

But the Indonesian index rose on the back of gains in

consumer and telecom sectors.

Global index provider MSCI said on Thursday that it will

quadruple the proportion of Chinese mainland shares in its

global benchmarks later this year, potentially drawing more than

$80 billion of fresh foreign inflows into the world's second

largest economy.

The Philippine index dropped 1.4 percent to its

lowest level since Jan. 3, with broad-based losses.

MSCI's announcement would result in outflows from emerging

markets, such as the Philippines, into China, said Miguel Ong, a

research analyst at Manila-based AP Securities.

The Philippines, one of the largest emerging economies

across Asia, saw a combined net inflow of $535 million into its

equities in January and February, according to exchange data.

The Malaysian benchmark index dipped 0.5 percent,

with the utilities and consumer sector taking the biggest hit.

Electricity distributor Tenaga Nasional Bhd fell

2.8 percent and was one of the biggest drags on the index after

the company reported a quarterly net loss of 134.3 million

ringgit ($33.00 million), while Malaysia Airports Holdings

Bhd traded 0.7 percent lower.

The Thai index fell 0.3 percent, dragged by telecom

and material stocks.

Meanwhile, Indonesian shares gained 0.9 percent,

with conglomerate Astra International Tbk PT rising

2.8 percent and Telekomunikasi Indonesia (Persero) Tbk

Perusahaan Perseroan PT advancing 1 percent.

The annual inflation rate in the region's largest economy

cooled more than expected to the lowest level in almost a

decade, near the lower end of the central bank's target range,

due to falling food prices.

Vietnam index pared previous session's losses to rise

0.9 percent higher, buoyed by financial and consumer stocks.

Real estate firm Vinhomes JSC and Vietnam Dairy

Products JSC added 2.3 percent and 0.6 percent,

respectively.

The index, which is the best performer in Southeast Asia

since the turn of the year, is, however, set to post a weekly

loss of 1.5 percent.

Singapore shares snapped three straight sessions of

losses on Friday as financials boosted the index, with lender

DBS Group Holdings Ltd scaling as much as 1.5 percent.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS AS AT 0452 GMT

Market Current Previous close Pct Move

Singapore 3226.44 3212.69 0.43

Bangkok 1648.35 1653.48 -0.31

Manila 7596.09 7705.49 -1.42

Jakarta 6498.984 6443.348 0.86

Kuala Lumpur 1698.69 1707.73 -0.53

Ho Chi Minh 974.15 965.47 0.90

Change so far in 2019

Market Current End 2018 Pct Move

Singapore 3226.44 3068.76 5.14

Bangkok 1648.35 1563.88 5.40

Manila 7596.09 7,466.02 1.74

Jakarta 6498.984 6,194.50 4.92

Kuala Lumpur 1698.69 1690.58 0.48

Ho Chi Minh 974.15 892.54 9.14

($1 = 4.0700 ringgit)

(Reporting by Shriya Ramakrishnan in Bengaluru; Additional

reporting by Niyati Shetty and Gaurav Dogra; Editing by Rashmi

Aich)