SE Asia Stocks-Lower as Deutsche Bank woes spook investors

By Anusha Ravindranath

Sept 30 (Reuters) - Southeast Asian share markets fell on

Friday tracking Asian peers as concerns over the stability of

Germany's largest lender, Deutsche Bank, prompted investors to

pull back from financial stocks.

Negative sentiment spilled over to regional markets with

banking names facing fresh trouble after U.S.-listed shares of

Deutsche Bank hit a record low overnight following a report that

trading clients had withdrawn excess cash and positions held in

the German lender.

"The concern over Deutsche Bank's stability was driving down

Wall Street. I think, that negative sentiment is spilling over

to Asia and other regional markets," said Victor Felix, an

analyst with AB Capital Securities.

"I'm not surprised that Singapore's financial index is

taking losses as it is more of a Western-oriented market."

Asian stocks followed Wall Street lower in early trade with

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

losing 0.5 percent.

Singapore shares were the worst hit with the index

falling over 1 percent. Financials, the biggest constituent of

the index, fell with DBS Group Holdings Ltd and United

Overseas Bank Ltd among the worst performers.

Vietnam markets dropped, ending a nine-day winning

streak, while Indonesia drifted lower after three

sessions of gains.

Philippine stocks snapped two sessions of gains with

financials, the biggest index component, losing ground.

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SOUTHEAST ASIAN STOCK MARKETS

STOCK MARKETS

Change at 0352 GMT

Market Current Previous Pct Move

Close

Singapore 2859.37 2885.71 -0.91

Bangkok 1487.65 1491.43 -0.25

Manila 7651.44 7714.86 -0.82

Jakarta 5426.88 5431.957 -0.09

Kuala Lumpur 1664.74 1669.64 -0.29

Ho Chi Minh 687.57 688.55 -0.14

Change so far this

year

Market Current End 2015 Pct Move

Singapore 2859.37 2882.73 -0.81

Bangkok 1487.65 1288.02 15.50

Manila 7651.44 6952.08 10.06

Jakarta 5426.88 4593.008 18.16

Kuala Lumpur 1664.74 1692.51 -1.64

Ho Chi Minh 687.57 579.03 18.75

(Reporting by Anusha Ravindranath in Bengaluru; Editing by

Sunil Nair)