SE Asia Stocks-Indonesian shares plunge amid rout in EM currencies, stocks

* Indonesia posts worst pct drop since Nov 2016

* Philippines marks biggest pct decline in over 7 weeks

* Singapore, Malaysia slide more than 1 pct

By Karthika Suresh Namboothiri

Aug 13 (Reuters) - Indonesian shares plummeted on Monday in

their worst drop in nearly two years as emerging market

currencies faced a deep selloff, causing a market rout across

Southeast Asia.

The Turkish lira and the Indian rupee plunged to all-time

lows on Monday, while the Indonesian rupiah slid to a near

three-year low.

"Emerging markets have very weak current account balance

which would have very negative impact," said Taye Shim, head of

research at Jakarta-based Mirae Asset Sekuritas.

"That is prompting investors to reassess their investment

thesis on emerging markets as we really don't know how it is

going to play out."

The lira has lost about 45 percent of its value

against the dollar this year, largely over worries about

President Tayyip Erdogan's influence over the economy, his

repeated calls for lower interest rates in the face of high

inflation and deteriorating ties with the United States.

The lira's drop unnerved global investors, with MSCI's

broadest index of Asia-Pacific shares outside Japan

shedding as much as 1.6 percent on Monday.

Indonesian shares slumped more than 3 percent, marking their

steepest intraday percentage drop since November 2016.

The rupiah also plunged 0.9 percent on Monday to its weakest

since October 2015, after data showed on Friday the country's

current account deficit, a major concern for global emerging

market investors, swelled to the largest in nearly four years in

the second quarter.

Indonesia's central bank is intervening to defend the

rupiah, a senior official said on Monday.

Financials led the losses in the stocks, with Bank Central

Asia and Bank Mandiri sliding as much as 3.5

percent and 6.5 percent, respectively.

The index of the country's 45 most liquid stocks

dropped nearly 4 percent.

Philippines also plunged, by 2 percent, marking its worst

drop since June 22.

SM investments Corp dropped over 2.7 percent, while

real estate developer Ayala Land fell 3.6 percent.

Singapore shares dropped 1.4 percent to their lowest

in nearly four weeks, dragged down largely by financials.

Oversea-Chinese Banking Corp fell as much as 2.3

percent while DBS Group Holdings hit a five-week low.

Singapore's economy grew slower than initial estimates in

the April-June period on a quarter-on-quarter basis, revised

data showed on Monday, as the government flagged a likely

moderation in growth in the second half.

Thailand was closed for a holiday.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS AS AT 0436 GMT

Market Current Previous close Pct Move

Singapore 3245.55 3284.78 -1.19

Manila 7651.99 7804.98 -1.96

Jakarta 5885.542 6077.173 -3.15

Kuala Lumpur 1785.27 1805.75 -1.13

Ho Chi Minh 970 968.47 0.16

Change on year

Market Current End 2017 Pct Move

Singapore 3245.55 3402.92 -4.62

Manila 7651.99 8558.42 -10.59

Jakarta 5885.542 6355.654 -7.40

Kuala Lumpur 1785.27 1796.81 -0.64

Ho Chi Minh 970 984.24 -1.45

(Additional Reporting by Aditya Soni; Editing by Amrutha

Gayathri)