SE Asia Stocks-Most end lower; weak economic data stokes slowdown fears

* Most deepen losses towards close after weak China data

* Thailand, Philippines cling to meagre gains

* Malaysia worst performer, closes at near two-week low

By Rashmi Ashok

Jan 2 (Reuters) - Most Southeast Asian stocks erased early

gains to end in the red on Wednesday with Malaysia losing the

most, as disappointing Chinese economic data and a barrage of

other dismal economic indicators stoked fears of a slowdown.

In China — the region's largest trading partner — the

Caixin/Markit PMI slipped into contraction territory for the

first time in 19 months in December, broadly tracking an

official survey released on Monday.

With the fresh data, together with a fall in industrial

profits, and softer retail sales growth in November, "we can

confirm that the economy is weakening," Iris Pang, economist,

Greater China at ING said in a note to clients.

China's weakness spilled over to other Asian economies, with

Malaysia's manufacturing activity in December shrinking to its

weakest pace of expansion since it launched the survey in 2012.

Adding to the worries, official economic data out of

export-reliant Singapore showed its gross domestic product grew

more slowly than forecast in the fourth quarter as its

manufacturing sector contracted on a quarterly basis.

The Malaysian benchmark index was the worst

performer in the region, shedding 1.3 percent, with shares of

Sime Darby Plantation Berhad falling 4.4 percent,

while those of oil and gas services provider Dialog Group Berhad

ending 3.5 percent lower.

Singapore's index followed suit, tumbling nearly 1

percent. Shares of industrial conglomerate Jardine Matheson

Holdings Ltd and lender UOL Group Ltd lost

2.4 percent and 1.9 percent, respectively.

The Indonesian index also edged lower on the back of

material and telecom stocks.

Meanwhile, Indonesia's December annual inflation rate eased,

but the pace was quicker than expected, data from the statistics

bureau showed on Wednesday.

Bucking the trend, Philippine's index rose as strong

gains in real-estate stocks offset losses in most other sectors.

Driving the benchmark was heavyweight Ayala Land Inc's

counter, which bounced back after falling for two consecutive

weeks.

Shares of property developer SM Prime Holdings Inc

along with Ayala Land were among top boosts to the index, up 3.4

percent and 1.7 percent, respectively.

Thailand's index edged up, with financials and

energy stocks underpinning gains.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS

Change on the day

Market Current Previous close Pct Move

Singapore 3038.89 3068.76 -0.97

Bangkok 1565.94 1563.88 0.13

Manila 7489.2 7466.02 0.31

Jakarta 6181.175 6194.498 -0.22

Kuala Lumpur 1668.11 1690.58 -1.33

Ho Chi Minh 891.75 892.54 -0.09

Change so far in 2019

Market Current End 2018 Pct Move

Singapore 3038.89 3068.76 -0.97

Bangkok 1565.94 1563.88 0.13

Manila 7489.2 7,466.02 0.31

Jakarta 6181.175 6,194.50 -0.22

Kuala Lumpur 1668.11 1690.58 -1.33

Ho Chi Minh 891.75 892.54 -0.09

(Reporting by Rashmi Ashok in Bengaluru; Editing by Rashmi

Aich)