SE Asia Stocks-Most fall; Indonesian shares slide as rupiah slumps

* Indonesia falls for fourth straight session

* Singapore snaps four-session losing streak

* Philippines climbs to four-month closing high

By Sumeet Gaikwad

Sept 4 (Reuters) - Indonesian shares slid and most other

Southeast Asian markets slipped on Tuesday as Argentina's

austerity measures rattled emerging markets and led to steep

losses in most Asian currencies.

Growing turbulence in Argentina has kept global attention

focused on emerging markets. On Monday, Argentine President

Mauricio Macri unveiled new taxes on exports and steep cuts to

government spending in what he termed "emergency" measures to

balance next year's budget.

The rupiah dropped to its lowest since the Asian

financial crisis two decades ago. It has lost about 9 percent

this year.

The ongoing trade dispute between the United States and

China also added to market worries, as the deadline for public

comment on U.S. President Donald Trump's tariffs on another $200

billion of Chinese goods is Thursday.

"In Asia, there has been a sell-off across, initiated

earlier this year by rising US interest rates and higher oil

prices; but really picking up momentum on trade war risks,"

Mizuho Bank said in a note.

Indonesian shares slid to a two-week closing low in

their fourth straight losing session. Telekomunikasi Indonesia

fell 2 percent, while Bank Negara Indonesia

dropped 4.5 percent.

The index of the country's 45 most liquid stocks

declined 1 percent.

Thai shares ended lower, weighed down by industrials

and materials. Airports of Thailand declined 1.5

percent, while PTT Global Chemical fell nearly 2

percent.

Singapore stocks crawled slightly higher, snapping a

four-session losing streak, helped by financials.

Oversea-Chinese Banking Corp and DBS Group Holdings

rose marginally.

Philippine shares also rose, to a near four-month

closing high, led by gains in consumer discretionary and

financial stocks.

Philippine annual inflation is expected to have quickened in

August to the fastest pace in nearly 9-1/2 years, reflecting

higher prices of key food items, including rice, and energy

costs, a Reuters poll showed.

The acceleration could prompt the central bank to raise key

interest rates for the fourth time this year when it reviews

policy on Sept. 27, some economists said.

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SOUTHEAST ASIAN STOCK MARKETS

Change on the day

Market Current Previous close Pct Move

Singapore 3210.51 3207.2 0.10

Bangkok 1714.41 1721.21 -0.40

Manila 7881.82 7832.22 0.63

Jakarta 5905.301 5967.579 -1.04

Kuala Lumpur 1812.76 1813.58 -0.05

Ho Chi Minh 975.94 989.54 -1.37

Change on year

Market Current End 2017 Pct Move

Singapore 3210.51 3402.92 -5.65

Bangkok 1714.41 1753.71 -2.24

Manila 7881.82 8558.42 -7.91

Jakarta 5905.301 6355.654 -7.09

Kuala Lumpur 1812.76 1796.81 0.89

Ho Chi Minh 975.94 984.24 -0.84

(Reporting by Sumeet Gaikwad in Bengaluru; Editing by Amrutha

Gayathri)