SE Asia Stocks-Down on U.S. Fed rate hike concerns

BANGKOK, March 20 (Reuters) - Southeast Asian stock markets

fell on Thursday as concerns about a sooner-than-expected rise

in U.S. interest rates triggered selling across the region.

Jakarta's Composite Index fell 2.5 percent, trimming

its year-to-date gain in U.S. dollar terms to 18.5 percent, but

still retaining its position as Asia's second-best performer so

far this year.

Profit-taking hit large-caps, with the biggest

losers including shares of Bank Danamon Indonesia and

property firm Pakuwn Jati.

The Thai SET index was down 0.8 percent at midday,

extending losses from the past two days due to selling by

domestic investors. The market saw foreign inflows this week

after the lifting of an emergency decree.

"Given the tight valuations and domestic uncertainty, SET

may trade sideways down," strategists at broker KGI Securities

wrote in a report.

Stocks in Singapore, Malaysia and the

Philippines were all stuck in negative territory after a

drop in U.S. stocks overnight.

U.S. stocks fell on Wednesday after comments from Federal

Reserve Chair Janet Yellen raised the possibility of an earlier-

than-anticipated increase in interest rates.

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SOUTHEAST ASIAN STOCK MARKETS

Change at 0657 GMT

Market Current Prev Close Pct Move

TR SE Asia Index* 399.25 405.92 -1.64

Singapore 3060.14 3080.75 -0.67

Kuala Lumpur 1813.98 1817.44 -0.19

Bangkok 1354.10 1364.27 -0.75

Jakarta 4703.41 4821.46 -2.45

Manila 6411.51 6462.49 -0.79

Ho Chi Minh 601.23 605.59 -0.72

* The Thomson Reuters South East Asia Index is a

highly representative indicator of stocks listed in Indonesia,

Malaysia, the Philippines, Singapore, Thailand and Vietnam.

(Reporting by Viparat Jantraprap; Editing by Sunil Nair)