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SE Asia Stocks-Fall as trade war fears dampen global risk appetite

* Philippine shares lose 1 pct, Malaysia down 0.8 pct

* Vietnam hits 11-year high

By Susan Mathew

March 5 (Reuters) - Most Southeast Asian stock markets fell

on Monday, following weakness in Asian and global shares, after

U.S. President Donald Trump's pledge last week to impose tariffs

on steel and aluminium imports sparked fears of a possible trade

war.

Canada and Mexico have threatened retaliation, while the

European Union said it would apply 25 percent tariffs on about

$3.5 billion of imports from the United States if Trump carried

out his threat.

China does not want a trade war with the United States but

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will defend its interests, a senior Chinese diplomat said on

Sunday.

"On paper, net (steel) exporters such as China, Japan, Korea

and Taiwan may hurt most (from the potential imposition of U.S.

tariff) while net importers such as Vietnam, Thailand,

Indonesia, Malaysia and the Philippines may in theory stand to

gain," Mizuho Bank said in a note.

Asia shares ex-Japan were 0.6 percent lower.

In Southeast Asia, Philippine stocks were down 1

percent, as index heavy-weights SM Investments and BDO

Unibank lost 2.1 percent and 1.3 percent, respectively.

"It's more sentiment driven today," said April Lee-Tan, head

of research with the Manila-based COL Financial Inc, adding the

Philippines would see minimal impact from the proposed tariffs

as it is not a big exporter of steel.

Singapore shares were on track to post their fifth

straight session of losses, as steel-related stocks weighed on

the index.

Jardine Matheson was 1.6 percent lower, while

Keppel Corp shed 2.2 percent.

Malaysia fell, with aluminium trader Press Metal

Aluminium Holdings dragging down the index with a 10.2

percent drop.

The country's January trade balance data is expected later

in the day, with a Reuters poll showing expectation of an

acceleration.

The Vietnam index, however, hit its highest since

March 2007.

Real estate company Vingroup JSC rose as much as

3.2 percent to a record high, while Vietjet Aviation JSC

climbed as much as 3.7 percent to touch a more than

one-month high.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0353 GMT

Market Current Previous Pct Move

Close

Singapore 3453.74 3479.2 -0.73

Bangkok 1814.79 1811.98 0.16

Manila 8375.55 8458.57 -0.98

Jakarta 6573.506 6582.316 -0.13

Kuala Lumpur 1842.05 1856.07 -0.76

Ho Chi Minh 1128.13 1121.21 0.62

Change on year

Market Current End 2017 Pct Move

Singapore 3453.74 3402.92 1.49

Bangkok 1814.79 1753.71 3.48

Manila 8375.55 8558.42 -2.14

Jakarta 6573.506 6355.654 3.43

Kuala Lumpur 1842.05 1796.81 2.52

Ho Chi Minh 1128.13 984.24 14.62

(Reporting by Susan Mathew in Bengaluru; Editing by Biju

Dwarakanath)