SE Asia Stocks-Most fall as China-U.S. trade spat ramps up

* Singapore falls as much as 1.7 pct

* Vietnam drops 2.2 pct, set for 3rd losing session

* Philippines climbs for 2nd session

By Karthika Suresh Namboothiri

July 11 (Reuters) - Southeast Asian stock markets fell on

Wednesday, with Singapore erasing some of the last two sessions'

gains and Vietnam extending losses to a third session, as

Washington warned of tariffs on an additional $200 billion worth

of Chinese imports, escalating the trade dispute.

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

fell 1.5 percent as the new tariff plan

rekindled risk-aversion after a strong start to the week for

global equities.

"Expect a risk-off tone to prevail over Asian markets today

as investors prepare for the next escalation of U.S.-Sino trade

tensions and China's response", OCBC said on a note.

Singapore shares shed as much as 1.7 percent, giving

up some of their 2.6 percent gain over the last two sessions.

Oversea-Chinese Banking Corp Ltd and DBS Group

Holdings fell over 2.6 percent each.

Indonesian stocks slid 1 percent, with Bank Negara

Indonesia down as much as 3.4 percent and Unilever

Indonesia dropping over 1 percent.

The index of the country's 45 most liquid stocks

declined 1.6 percent in early trade.

Malaysian shares were down as much as 0.5 percent.

Telecommunications service provider Axiata Group Bhd

fell 3.8 percent.

The Malaysian central bank is expected to leave its

benchmark interest rate unchanged at its first policy meeting

under the newly appointed central bank governor.

Thai shares fell nearly 1 percent, with energy

stocks taking a beating from falling oil prices.

PTT Public Co fell more than 2 percent, while

Airports of Thailand were set to extend losses to a

second session.

Vietnam's main index dropped 2.2 percent, with real

estate company Vingroup Joint Stock Co down nearly 3

percent.

Meanwhile, Philippine stocks climbed 0.6 percent,

boosted by gains in industrials.

"Investors think that despite the risks and headwinds, some

of their risks may have burst in already which resulted in some

bargain-hunting on some heavily discounted levels", said Fio

Dejesus, an analyst at Manila-based RCBC Securities.

Index heavyweights SM Investments Corp was up as

much as 2.6 percent and Bank of the Philippine Islands

gained over 2.4 percent.

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SOUTHEAST ASIAN STOCK MARKETS AS AT 0418 GMT

Market Current Previous close Pct Move

Singapore 3247.34 3274.83 -0.84

Bangkok 1639.44 1643.6 -0.25

Manila 7278.92 7233.29 0.63

Jakarta 5870.734 5881.76 -0.19

Kuala Lumpur 1684.69 1687.13 -0.14

Ho Chi Minh 896.14 911.12 -1.64

Change on year

Market Current End 2017 Pct Move

Singapore 3247.34 3402.92 -4.57

Bangkok 1639.44 1753.71 -6.52

Manila 7278.92 8558.42 -14.95

Jakarta 5870.734 6355.654 -7.63

Kuala Lumpur 1684.69 1796.81 -6.24

Ho Chi Minh 896.14 984.24 -8.95

(Reporting by Karthika Suresh Namboothiri; Editing by Amrutha

Gayathri)