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SE Asia Stocks-Largely down on fresh Trump worries; Vietnam hits 9-yr high

By Sandhya Sampath

March 22 (Reuters) - Most Southeast Asian stock markets fell

on Wednesday, taking cues from a selloff on Wall Street as

investors are increasingly worried that U.S. President Donald

Trump will struggle to deliver promised pro-growth policies,

including financial deregulation.

Investors see the Trump administration's struggles to push

through the healthcare overhaul as a sign that he may also face

setbacks delivering promised corporate tax cuts.

"Everything is down with the surprise 200 point drop in

America," said Joseph Roxas, president of Manila-based Eagle

Equities Inc, adding that the U.S. market was "really

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overbought" and due for a "big correction".

"Everything will be down for today, probably not to the same

degree as the United States. We will probably recover faster. My

feeling is that emerging-market stocks will gather more interest

in the meantime or going forward."

MSCI's broadest index of Asia-Pacific shares outside Japan

fell as much as 1.5 percent, in its biggest

intraday percentage fall since Dec. 15, 2016.

In the United States, the Dow Jones Industrial Average

ended 1.1 percent lower, while the S&P 500 lost

1.2 percent.

Singapore shares fell as much as 1.3 percent and were

headed for a third straight session of declines, with losses

being broad-based.

Yangzijiang Shipbuilding declined by 3.5 percent,

making it the biggest loser on the index, while Sembcorp

Industries Ltd dropped 2.2 percent.

Philippine shares fell up to 1.2 percent, dragged

down by financial and consumer stocks with property developer

Ayala Land Inc shedding 2.5 percent and SM Investments

Corp declining 1.4 percent.

Thailand shares recovered from early falls to trade

0.3 percent lower.

The country's customs-cleared exports data contracted, but

the drop was smaller than expected and the government was still

optimistic about the trade outlook.

Bucking the trend, Vietnam gained as much as 0.6

percent to its highest in over nine years.

Gains were led by financials and consumer staples, with

Joint Stock Commercial Bank for Foreign Trade of Viet Nam

gaining 0.5 percent.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS: CHANGE AT 0412 GMT

Market Current Previous Close Pct Move

Singapore 3121.65 3158.57 -1.17

Bangkok 1564.85 1568.78 -0.25

Manila 7237.79 7323.31 -1.17

Jakarta 5507.595 5543.093 -0.64

Kuala Lumpur 1739.38 1754.67 -0.87

Ho Chi Minh 719.84 716.18 0.51

Change on year

Market Current End 2016 Pct Move

Singapore 3121.65 2880.76 8.36

Bangkok 1564.85 1542.94 1.42

Manila 7237.79 6840.64 5.8

Jakarta 5507.595 5296.711 3.98

Kuala Lumpur 1739.38 1641.73 5.95

Ho Chi Minh 719.84 664.87 8.3

(Reporting by Sandhya Sampath; Editing by Subhranshu Sahu)