SE Asia Stocks-Most fall on global growth slowdown worries; Indonesia worst hit

* Malaysia set to post third straight weekly gain

* Investors remain cautious amid trade talks

* Vietnam rises to highest in over 4 months

By Shreya Mariam Job

Feb 22 (Reuters) - Indonesia led losses as most Southeast

Asian stock markets fell on Friday, as worries of a global

growth slowdown continued to hamper investor sentiment, while

Vietnam continued to rise for the fifth straight session.

Investors are also exercising caution amid trade talks

between the U.S. and China with the tit-for-tat tariffs between

the world's two largest economic powers having already disrupted

international trade and slowed the global economy since the

trade war started several months ago.

"Slowing global growth is underway, evidenced by falling

exports growth in trade-sensitive countries... An improved

US-China relation may not provide an immediate boost to demand

against the backdrop of peaking trade growth," said Zhu Huani,

an economist at Mizuho Bank said in a note.

The Indonesian benchmark dropped 0.7 percent,

leading losses in the region, following the central bank's

decision to hold key rate on Thursday. But for the week, the

index is set to snap two straight weeks of losses.

Indonesia's central bank kept interest rates on hold on

Thursday and said it was looking at ways to boost loan growth.

Financial and consumer stocks dragged the index with Telekom

Indonesia and Bank Negara Indonesia falling

1 percent and 2 percent respectively.

Malaysian stocks fell 0.6 percent, ahead of the

country's January inflation data to be released later today. The

index is, however, set to post its third consecutive weekly

gain.

Malaysia's consumer prices are expected to fall in January,

the first decline in nearly a decade, amid a drop in domestic

fuel prices, a Reuters poll showed on Wednesday. The central

bank however, said last week that the country was not at risk of

deflationary pressure.

The index was dragged by losses in healthcare and telecom

stocks, with IHH Healthcare Bhd and Maxis Bhd

shedding as much as 1.7 percent and 3.4 percent,

respectively.

Singapore's index shed 0.5 percent after the

country's second-biggest listed lender Oversea-Chinese Banking

Corp Ltd posted disappointing quarterly financial

earnings.

OCBC missed market estimates with a 10 percent drop in

quarterly profit, due to a weak performance in its insurance

business

Shares of OCBC dropped as much as 2.2 percent, while those

of its peer United Overseas Bank Ltd dipped as much

2.2 percent.

The Vietnam index continued to surge for the fifth

straight day and rose 0.4 percent, with gains concentrated in

financial stocks. Joint Stock Commercial Bank for Foreign Trade

of Vietnam rose 2.8 percent.

Meanwhile, Philippine stocks edged marginally higher.

For Asian Companies click;

SOUTHEAST ASIAN STOCK MARKETS As at 0405 GMT

Change on the day

Market Current Previous close Pct Move

Singapore 3262.16 3277.91 -0.48

Bangkok 1646.48 1647.32 -0.05

Manila 7935.09 7931.3 0.05

Jakarta 6491.529 6537.766 -0.71

Kuala Lumpur 1719.95 1730.68 -0.62

Ho Chi Minh 991.49 987.57 0.40

Change so far in 2019

Market Current End 2018 Pct Move

Singapore 3262.16 3068.76 6.30

Bangkok 1646.48 1563.88 5.28

Manila 7935.09 7,466.02 6.28

Jakarta 6491.529 6,194.50 4.80

Kuala Lumpur 1719.95 1690.58 1.74

Ho Chi Minh 991.49 892.54 11.09

(Reporting by Shreya Mariam Job in Bengaluru; Editing by Rashmi

Aich)