SE Asia Stocks-Fall on fears of a 'hard' Brexit

By Sandhya Sampath

Jan 16 (Reuters) - Southeast Asian stock markets ended lower

on Monday as investors turned jittery over concerns Britain

faces a "hard" exit from the European Union, sending the pound

to its lowest levels - bar a "flash crash" in October - in 32

years.

The sterling plunged to as low as $1.1983 in early

trade in Asia, depths not seen since a bout of thin liquidity

triggered a "flash crash" on Oct. 7 that wiped as much as 10

percent off the pound in a matter of minutes.

The sterling, which fell as much as 1.5 percent against the

dollar and over 2 percent against the yen, was down 0.9 percent

at $1.2070 as of 0957 GMT.

U.K. Prime Minister Theresa May will use a speech on Tuesday

to signal plans for a "hard Brexit", quitting the EU's single

market to regain control of Britain's borders, the Sunday Times

reported.

Investors have been worried such a decisive break from the

single market would hurt British exports and drive foreign

investment out of the country.

"Most of the regional markets are down today after the

British pound weakened, as its prime minister is seeking a hard

Brexit," said Manny Cruz, an analyst with Manila-based Asiasec

Equities Inc.

Singapore's FTSE Straits Times Index ended 0.4

percent lower, dragged down by consumer stocks. Singapore Press

Holdings Ltd lost 3.5 percent, while Wilmar

International Ltd closed 0.8 percent lower.

Vietnam shares ended 1 percent lower, posting losses

for a third consecutive session, dragged down by financials and

energy stocks.

Malaysia ended down 0.8 percent, pulled lower by

financials and industrials. Malayan Banking Bhd, the

biggest loser on the index, fell 3.3 percent.

Philippines erased early gains to end marginally

lower, with higher financials offsetting losses in industrials.

"I think we ended in negative territory, as the negative

sentiment in the region spilled over to the local market," said

Cruz of Asiasec Equities.

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SOUTHEAST ASIAN STOCK MARKETS

STOCK MARKETS

Change on the day

Market Current previous close Pct Move

Singapore 3013.12 3025.07 -0.40

Bangkok 1571.80 1575.24 -0.22

Manila 7238.45 7238.52 0.00

Jakarta 5270.011 5272.983 -0.06

Kuala Lumpur 1658.84 1672.5 -0.82

Ho Chi Minh 677.94 685.06 -1.04

Change this year

Market Current End 2016 Pct Move

Singapore 3013.12 2880.76 4.59

Bangkok 1571.80 1542.94 1.87

Manila 7238.45 6840.64 5.80

Jakarta 5270.011 5296.711 -0.50

Kuala Lumpur 1658.84 1641.73 1.04

Ho Chi Minh 677.94 664.87 2.00

(Reporting by Sandhya Sampath; Editing by Biju Dwarakanath)